Elevance Health, Inc. (NYSE:ELV) Shares Bought by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV grew its position in Elevance Health, Inc. (NYSE:ELV) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,046 shares of the company’s stock after purchasing an additional 135 shares during the period. Elevance Health makes up approximately 2.3% of Tandem Capital Management Corp ADV’s holdings, making the stock its 12th largest holding. Tandem Capital Management Corp ADV’s holdings in Elevance Health were worth $4,172,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its stake in Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after buying an additional 532,016 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares during the period. M&G Plc acquired a new stake in Elevance Health in the 1st quarter valued at $203,389,000. Maj Invest Holding A S purchased a new position in Elevance Health in the second quarter valued at about $173,753,000. Finally, First Eagle Investment Management LLC lifted its stake in shares of Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after purchasing an additional 275,708 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ELV. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Royal Bank of Canada reduced their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a research report on Friday, October 18th. Barclays lowered their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $551.07.

Insider Transactions at Elevance Health

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

Elevance Health Price Performance

Elevance Health stock traded up $13.01 during midday trading on Friday, hitting $432.05. The company’s stock had a trading volume of 68,104 shares, compared to its average volume of 1,094,552. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average price is $519.97 and its 200-day moving average price is $525.88. The company has a market capitalization of $100.42 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last released its 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). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.99 earnings per share. Analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is 24.64%.

Elevance Health 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.