Apollon Financial LLC Purchases 38 Shares of Elevance Health, Inc. (NYSE:ELV)

Apollon Financial LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 7.0% during the third quarter, Holdings Channel.com reports. The fund owned 583 shares of the company’s stock after buying an additional 38 shares during the period. Apollon Financial LLC’s holdings in Elevance Health were worth $303,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Bank & Trust Co purchased a new stake in shares of Elevance Health in the second quarter worth about $27,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the 3rd quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the second quarter worth about $28,000. Strategic Financial Concepts LLC purchased a new stake in Elevance Health during the second quarter valued at approximately $30,000. Finally, Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter worth approximately $31,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Up 0.7 %

NYSE ELV opened at $425.39 on Tuesday. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The company has a fifty day simple moving average of $486.59 and a two-hundred day simple moving average of $516.91. 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 cap of $98.66 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.26 and a beta of 0.85.

Elevance Health (NYSE:ELV) last posted 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the previous year, the firm posted $8.99 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed 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. This represents a $6.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on ELV. Barclays lowered their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. UBS Group decreased their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

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.