Aljian Capital Management LLC Invests $1.25 Million in Elevance Health, Inc. (NYSE:ELV)

Aljian Capital Management LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,407 shares of the company's stock, valued at approximately $1,252,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Edgestream Partners L.P. bought a new position in shares of Elevance Health during the 1st quarter valued at approximately $698,000. Bahl & Gaynor Inc. bought a new position in shares of Elevance Health in the first quarter worth approximately $207,000. UniSuper Management Pty Ltd increased its stake in shares of Elevance Health by 160.6% in the first quarter. UniSuper Management Pty Ltd now owns 5,053 shares of the company's stock worth $2,620,000 after purchasing an additional 3,114 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of Elevance Health by 61.5% during the 1st quarter. Lake Street Advisors Group LLC now owns 3,247 shares of the company's stock valued at $1,684,000 after purchasing an additional 1,237 shares during the period. Finally, Saturna Capital Corp lifted its stake in shares of Elevance Health by 13.5% during the 1st quarter. Saturna Capital Corp now owns 209,879 shares of the company's stock valued at $108,831,000 after buying an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of NYSE:ELV remained flat at $400.69 during trading on Monday. The stock had a trading volume of 1,465,539 shares, compared to its average volume of 1,166,233. The company has a market cap of $92.93 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a 50 day moving average price of $472.43 and a two-hundred day moving average price of $512.56. Elevance Health, Inc. has a 1-year low of $397.92 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (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 company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the prior year, the business earned $8.99 earnings per share. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 1.63%. The ex-dividend date is Thursday, December 5th. Elevance Health's dividend payout ratio (DPR) is currently 23.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company decreased their price target on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Argus downgraded Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a report on Friday, October 18th. Royal Bank of Canada lowered their target price on shares of Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $539.20.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

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.