20,963 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Executive Wealth Management LLC

Executive Wealth Management LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,963 shares of the company's stock, valued at approximately $10,901,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new stake in Elevance Health in the 3rd quarter worth $26,000. PSI Advisors LLC acquired a new stake in Elevance Health during the third quarter worth about $27,000. Strategic Financial Concepts LLC bought a new position in Elevance Health during the second quarter valued at about $30,000. Eastern Bank acquired a new position in Elevance Health in the 3rd quarter valued at approximately $31,000. Finally, Dunhill Financial LLC lifted its position in shares of 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 acquiring an additional 26 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

NYSE:ELV traded down $5.68 during mid-day trading on Tuesday, reaching $389.98. 2,201,310 shares of the company were exchanged, compared to its average volume of 1,212,379. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market cap of $90.44 billion, a PE ratio of 14.21, a PEG ratio of 1.14 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $379.29 and a 12 month high of $567.26. The company has a fifty day moving average of $431.73 and a 200 day moving average of $497.93.

Elevance Health (NYSE:ELV - Get Free Report) last announced 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 net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the previous year, the business posted $8.99 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Thursday, December 5th. Elevance Health's dividend payout ratio is presently 23.77%.

Insider Buying and Selling 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 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 of the company's stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELV. Barclays cut their target price on Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Cantor Fitzgerald lowered their target price on shares of Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. UBS Group cut their price target on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a research note on Friday, October 18th. Finally, Argus lowered Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, October 18th. One investment 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. Based on data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target 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.