Rep. Jared Moskowitz Purchases Shares of Elevance Health, Inc. (NYSE:ELV)

Representative Jared Moskowitz (D-Florida) recently bought shares of Elevance Health, Inc. NYSE: ELV. In a filing disclosed on December 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Elevance Health stock on November 8th. The trade occurred in the Representative's "MORGAN STANLEY ACTIVE ASSETS (5)" account.

Representative Jared Moskowitz also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Atmos Energy NYSE: ATO on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of QUALCOMM NASDAQ: QCOM on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of PepsiCo NASDAQ: PEP on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Tractor Supply NASDAQ: TSCO on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of McDonald's NYSE: MCD on 11/8/2024.
• Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 11/8/2024.
• Sold $50,001 - $100,000 in shares of Seacoast Banking Co. of Florida NASDAQ: SBCF on 11/8/2024.
• Sold $15,001 - $50,000 in shares of Seacoast Banking Co. of Florida NASDAQ: SBCF on 11/8/2024.

Elevance Health Stock Performance

ELV stock traded down $5.68 during mid-day trading on Tuesday, hitting $389.98. 2,201,310 shares of the company were exchanged, compared to its average volume of 1,212,379. The business has a 50 day simple moving average of $431.73 and a 200-day simple moving average of $497.93. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $90.44 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $379.29 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $8.99 earnings per share. On average, equities analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ELV shares. Barclays dropped their price target on shares of Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. UBS Group dropped 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 report on Friday, October 18th. Truist Financial reiterated a "buy" rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Finally, Royal Bank of Canada dropped their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $539.20.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business's stock in a transaction on 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 transaction, the executive vice president now owns 8,423 shares in the company, valued at $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 available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Elevance Health

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RFG Advisory LLC grew its stake in shares of Elevance Health by 2.5% in the second quarter. RFG Advisory LLC now owns 2,067 shares of the company's stock worth $1,120,000 after purchasing an additional 51 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Elevance Health by 1.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 6,234 shares of the company's stock worth $3,378,000 after purchasing an additional 65 shares during the last quarter. LVW Advisors LLC grew its stake in shares of Elevance Health by 13.7% in the second quarter. LVW Advisors LLC now owns 812 shares of the company's stock worth $440,000 after purchasing an additional 98 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Elevance Health by 4.2% in the second quarter. Sequoia Financial Advisors LLC now owns 6,328 shares of the company's stock worth $3,429,000 after purchasing an additional 253 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Elevance Health by 12.4% in the second quarter. Wedmont Private Capital now owns 2,083 shares of the company's stock worth $1,116,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida's 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida's 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state's Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor's degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz's career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

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.