World Investment Advisors LLC Makes New $8.86 Million Investment in Elevance Health, Inc. (NYSE:ELV)

World Investment Advisors LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,028 shares of the company's stock, valued at approximately $8,855,000.

Other large investors have also recently bought and sold shares of the company. Raelipskie Partnership acquired a new stake in Elevance Health in the third quarter worth $26,000. PSI Advisors LLC bought a new stake in Elevance Health in the 3rd quarter valued at about $27,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health during the 2nd quarter worth approximately $30,000. Eastern Bank bought a new position in Elevance Health in the third quarter worth approximately $31,000. Finally, Dunhill Financial LLC grew its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after acquiring an additional 26 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Wells Fargo & Company lowered their target price on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a research note on Friday, October 18th. Barclays decreased their target price 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. Argus cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, October 18th. Finally, Cantor Fitzgerald decreased their price objective on Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $539.20.

Elevance Health Stock Performance

Shares of ELV stock traded up $5.66 during trading hours on Friday, hitting $384.05. 1,066,668 shares of the company were exchanged, compared to its average volume of 1,217,611. 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 $89.07 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.15 and a beta of 0.83. The firm has a fifty day simple moving average of $424.53 and a 200 day simple moving average of $495.40. Elevance Health, Inc. has a 52-week low of $375.29 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (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 analysts' expectations of $43.47 billion. During the same period in the prior year, the business earned $8.99 earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's dividend payout ratio (DPR) is presently 23.77%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on 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 in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.

Elevance Health 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.