Simplify Asset Management Inc. Purchases 3,526 Shares of Elevance Health, Inc. (NYSE:ELV)

Simplify Asset Management Inc. increased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 67.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,762 shares of the company's stock after purchasing an additional 3,526 shares during the quarter. Simplify Asset Management Inc.'s holdings in Elevance Health were worth $4,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Catalytic Wealth RIA LLC acquired a new position in shares of Elevance Health in the 1st quarter valued at about $291,000. Blair William & Co. IL increased its holdings in Elevance Health by 119.7% in the first quarter. Blair William & Co. IL now owns 12,134 shares of the company's stock worth $6,292,000 after buying an additional 6,610 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in Elevance Health by 25.2% in the first quarter. Orion Portfolio Solutions LLC now owns 11,235 shares of the company's stock worth $5,826,000 after buying an additional 2,264 shares during the last quarter. Brighton Jones LLC increased its holdings in Elevance Health by 1.0% in the first quarter. Brighton Jones LLC now owns 3,986 shares of the company's stock worth $2,067,000 after buying an additional 38 shares during the last quarter. Finally, M&G Plc acquired a new position in Elevance Health in the first quarter worth approximately $203,389,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company's stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $6.27 during midday trading on Friday, reaching $400.78. The company's stock had a trading volume of 2,616,529 shares, compared to its average volume of 1,164,884. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The company has a market capitalization of $92.95 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.22 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The business's fifty day simple moving average is $478.13 and its 200-day simple moving average is $514.55.

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 return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the previous year, the business earned $8.99 earnings per share. Elevance Health's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business 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 1.63%. The ex-dividend date is Thursday, December 5th. Elevance Health's dividend payout ratio (DPR) is currently 23.77%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ELV. Cantor Fitzgerald lowered their price target on Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a report on Friday, October 18th. Morgan Stanley lowered their price target on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company lowered their price target on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Royal Bank of Canada lowered their price target on Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a report on Friday, October 18th. Finally, Stephens reissued an "underperform" rating on shares of Elevance Health 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and an average target price of $539.20.

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.