Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Trajan Wealth LLC

Trajan Wealth LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 43.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 49,542 shares of the company’s stock after buying an additional 15,025 shares during the period. Elevance Health comprises approximately 1.5% of Trajan Wealth LLC’s holdings, making the stock its 15th biggest position. Trajan Wealth LLC’s holdings in Elevance Health were worth $25,762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ELV. Bank & Trust Co acquired a new position in shares of Elevance Health in the 2nd quarter valued at about $27,000. PSI Advisors LLC bought a new stake in Elevance Health in the 3rd quarter valued at about $27,000. Palisade Asset Management LLC bought a new stake in Elevance Health in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health in the 2nd quarter valued at about $28,000. Finally, Strategic Financial Concepts LLC bought a new stake in Elevance Health in the 2nd quarter valued at about $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV opened at $410.57 on Wednesday. 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 firm has a market cap of $95.42 billion, a PE ratio of 15.52, a P/E/G ratio of 1.08 and a beta of 0.82. The business has a fifty day simple moving average of $509.97 and a 200-day simple moving average of $523.53. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26.

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

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.59%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Activity at Elevance Health

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. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s 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 completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents 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.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada cut their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Bank of America reiterated a “neutral” rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Truist Financial reiterated a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Finally, TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $551.07.

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.