Hilltop Holdings Inc. Grows Position in Elevance Health, Inc. (NYSE:ELV)

Hilltop Holdings Inc. boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2,489.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,910 shares of the company's stock after purchasing an additional 11,450 shares during the period. Hilltop Holdings Inc.'s holdings in Elevance Health were worth $6,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Ocean LLC lifted 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 holdings in Elevance Health by 1.9% in the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company's stock valued at $666,000 after buying an additional 23 shares during the period. Cypress Wealth Services LLC increased its stake in shares of Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock valued at $353,000 after acquiring an additional 23 shares during the last quarter. CVA Family Office LLC raised its position in shares of Elevance Health by 4.2% during the second quarter. CVA Family Office LLC now owns 602 shares of the company's stock worth $326,000 after purchasing an additional 24 shares during the period. Finally, FSM Wealth Advisors LLC increased its holdings in Elevance Health by 4.4% during the 2nd quarter. FSM Wealth Advisors LLC now owns 568 shares of the company's stock worth $308,000 after purchasing an additional 24 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other 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 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 sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ELV shares. Cantor Fitzgerald decreased their target price on Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a report on Friday, October 18th. TD Cowen decreased 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. Mizuho lowered their price target 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. Argus cut shares of Elevance Health from a "buy" rating to a "hold" rating 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 on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $539.20.

Elevance Health Trading Up 0.1 %

ELV traded up $0.39 on Tuesday, hitting $410.78. 871,400 shares of the company were exchanged, compared to its average volume of 1,187,559. 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 firm has a fifty day simple moving average of $446.87 and a two-hundred day simple moving average of $504.13. The stock has a market capitalization of $95.27 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.21 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $391.02 and a 12 month high of $567.26.

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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the prior year, the business posted $8.99 EPS. Elevance Health's revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's payout ratio is 23.77%.

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.