Anchor Investment Management LLC Buys 1,135 Shares of Elevance Health, Inc. (NYSE:ELV)

Anchor Investment Management LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 22.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,098 shares of the company’s stock after acquiring an additional 1,135 shares during the period. Anchor Investment Management LLC’s holdings in Elevance Health were worth $3,171,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Raelipskie Partnership bought a new position in Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC bought a new position in Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank bought a new position in Elevance Health in the 3rd quarter worth approximately $31,000. Dunhill Financial LLC raised its position in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new position in Elevance Health in the 3rd quarter worth approximately $44,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $385.61 on Thursday. The firm has a market cap of $89.43 billion, a PE ratio of 14.06, a PEG ratio of 1.14 and a beta of 0.83. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 1-year low of $379.29 and a 1-year high of $567.26. The company has a fifty day moving average price of $426.92 and a 200 day moving average price of $496.22.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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 return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the company earned $8.99 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.69%. Elevance Health’s dividend payout ratio is 23.77%.

Wall Street Analyst Weigh In

Several analysts have commented on ELV shares. Truist Financial reiterated a “buy” rating and set a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Mizuho dropped their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada dropped their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s 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 directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% 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.