Hofer & Associates. Inc Sells 84 Shares of Elevance Health, Inc. (NYSE:ELV)

Hofer & Associates. Inc lowered its position in Elevance Health, Inc. (NYSE:ELV) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,245 shares of the company’s stock after selling 84 shares during the quarter. Elevance Health makes up about 1.5% of Hofer & Associates. Inc’s investment portfolio, making the stock its 21st largest holding. Hofer & Associates. Inc’s holdings in Elevance Health were worth $2,207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank & Trust Co acquired a new stake in shares of Elevance Health in the second quarter valued at approximately $27,000. Palisade Asset Management LLC bought a new stake in Elevance Health in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health during the 2nd quarter valued at $28,000. Strategic Financial Concepts LLC bought a new position in Elevance Health during the second quarter worth $30,000. Finally, Eastern Bank acquired a new position in shares of Elevance Health in the third quarter valued at $31,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ELV. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday. Bank of America reiterated a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Raymond James set a $485.00 price target on Elevance Health in a research note on Friday. Cantor Fitzgerald dropped their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $557.20.

Elevance Health Stock Down 0.5 %

Shares of ELV traded down $2.22 on Tuesday, reaching $420.04. The company’s stock had a trading volume of 1,108,592 shares, compared to its average volume of 1,084,008. The stock has a market capitalization of $97.62 billion, a PE ratio of 15.90, a PEG ratio of 1.08 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The firm has a fifty day moving average of $524.68 and a 200-day moving average of $527.27.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the previous year, the company posted $8.99 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.