Foundations Investment Advisors LLC Raises Stock Position in Elevance Health, Inc. (NYSE:ELV)

Foundations Investment Advisors LLC increased its stake in Elevance Health, Inc. (NYSE:ELV) by 15.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,137 shares of the company’s stock after purchasing an additional 3,893 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Elevance Health were worth $15,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Fisher Asset Management LLC boosted its holdings in Elevance Health by 20.8% in the fourth quarter. Fisher Asset Management LLC now owns 899 shares of the company’s stock worth $424,000 after purchasing an additional 155 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Elevance Health by 12.0% in the first quarter. International Assets Investment Management LLC now owns 607 shares of the company’s stock worth $313,000 after purchasing an additional 65 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Elevance Health in the first quarter worth approximately $54,000. Riverview Trust Co purchased a new position in shares of Elevance Health during the 1st quarter worth $63,000. Finally, Dynamic Advisor Solutions LLC boosted its stake in shares of Elevance Health by 38.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,169 shares of the company’s stock worth $3,199,000 after acquiring an additional 1,719 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $422.39 on Tuesday. The company’s 50-day moving average price is $524.68 and its 200-day moving average price is $527.27. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market cap of $98.17 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted 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 return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the firm earned $8.99 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.54%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday. Bank of America reiterated a “neutral” rating and set a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday. Barclays lifted their price target on shares of Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley assumed coverage on shares of Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $565.27.

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.