Second Half Financial Partners LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

Second Half Financial Partners LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,462 shares of the company's stock, valued at approximately $3,360,000. Elevance Health makes up 1.8% of Second Half Financial Partners LLC's holdings, making the stock its 15th largest position.

Several other institutional investors have also made changes to their positions in the stock. Bank & Trust Co bought a new stake in shares of Elevance Health during the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health in the second quarter valued at about $28,000. PSI Advisors LLC bought a new stake in Elevance Health during the third quarter worth about $27,000. Eastern Bank acquired a new stake in Elevance Health during the third quarter worth about $31,000. Finally, Crewe Advisors LLC bought a new position in Elevance Health in the 1st quarter valued at about $40,000. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 transaction, the executive vice president now directly owns 8,423 shares of the company's stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Mizuho cut 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. UBS Group cut their target price on Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a research note on Friday, October 18th. Royal Bank of Canada decreased their price target on Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Stephens reissued an "underperform" rating on shares of Elevance Health in a report on Friday, October 18th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and a consensus target price of $539.20.

Elevance Health Trading Down 1.6 %

NYSE ELV traded down $6.50 on Tuesday, reaching $394.20. The company had a trading volume of 1,998,921 shares, compared to its average volume of 1,169,954. The firm has a market cap of $91.42 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.19 and a beta of 0.85. Elevance Health, Inc. has a fifty-two week low of $391.83 and a fifty-two week high of $567.26. The business has a 50 day moving average of $472.43 and a two-hundred day moving average of $512.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

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 for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $8.99 EPS. Analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

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 issued 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 1.65%. 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.