WESPAC Advisors SoCal LLC Has $1.29 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

WESPAC Advisors SoCal LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 21.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,481 shares of the company’s stock after acquiring an additional 435 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Elevance Health were worth $1,290,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ELV. American Trust grew its position in shares of Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 shares during the last quarter. Private Ocean LLC raised its stake in shares of Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after buying an additional 22 shares during the period. Hurlow Wealth Management Group Inc. lifted its position in shares of Elevance Health by 1.9% during the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock worth $666,000 after acquiring an additional 23 shares in the last quarter. Cypress Wealth Services LLC boosted its stake in Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after purchasing an additional 23 shares during the period. Finally, CVA Family Office LLC grew its stake in Elevance Health by 4.2% during the second quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after acquiring an additional 24 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $400.69 on Friday. The stock has a market capitalization of $92.93 billion, a PE ratio of 14.61, a P/E/G ratio of 1.22 and a beta of 0.85. The company has a fifty day moving average of $475.29 and a two-hundred day moving average of $513.52. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.99 EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.63%. Elevance Health’s dividend payout ratio is presently 23.77%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ELV. Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada reduced their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Wells Fargo & Company decreased their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, TD Cowen cut their price objective on 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 investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $539.20.

About Elevance Health

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.