Evergreen Wealth Management LLC Purchases 1,418 Shares of Elevance Health, Inc. (NYSE:ELV)

Evergreen Wealth Management LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 36.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,353 shares of the company's stock after acquiring an additional 1,418 shares during the quarter. Elevance Health accounts for about 1.7% of Evergreen Wealth Management LLC's investment portfolio, making the stock its 23rd largest holding. Evergreen Wealth Management LLC's holdings in Elevance Health were worth $2,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Bank & Trust Co bought a new stake in shares of Elevance Health in the 2nd quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health in the second quarter worth about $28,000. PSI Advisors LLC purchased a new stake in Elevance Health in the third quarter worth about $27,000. Eastern Bank bought a new stake in Elevance Health during the 3rd quarter valued at approximately $31,000. Finally, Crewe Advisors LLC purchased a new stake in Elevance Health in the first quarter worth $40,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

ELV traded down $6.35 during midday trading on Friday, hitting $400.69. 2,616,673 shares of the company traded hands, compared to its average volume of 1,164,884. The firm has a market capitalization of $92.93 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.22 and a beta of 0.85. The company's 50-day moving average is $475.29 and its 200 day moving average is $513.63. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.99 earnings per share. On average, research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 1.63%. Elevance Health's dividend payout ratio is currently 23.77%.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. TD Cowen cut their price target on Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research note on Monday, October 21st. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Argus downgraded Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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 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 completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.35% 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.