Benedict Financial Advisors Inc. Sells 32 Shares of Elevance Health, Inc. (NYSE:ELV)

Benedict Financial Advisors Inc. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,250 shares of the company’s stock after selling 32 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Elevance Health were worth $4,290,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Bank & Trust Co bought a new position in Elevance Health in the 2nd quarter worth $27,000. PSI Advisors LLC bought a new position in shares of Elevance Health in the third quarter worth about $27,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health during the first quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the 2nd quarter worth approximately $28,000. Finally, Strategic Financial Concepts LLC bought a new position in Elevance Health in the 2nd quarter worth approximately $30,000. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ELV has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Bank of America reissued a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Cantor Fitzgerald cut their price target 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $551.07.

Elevance Health Trading Up 1.5 %

ELV stock traded up $6.23 during mid-day trading on Friday, reaching $425.27. 2,089,681 shares of the stock traded hands, compared to its average volume of 1,104,316. The business has a 50-day moving average price of $515.15 and a two-hundred day moving average price of $524.55. The stock has a market capitalization of $98.84 billion, a PE ratio of 16.07, a PEG ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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 firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period last year, the company earned $8.99 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 1.53%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is currently 24.64%.

Insider Buying and Selling at Elevance Health

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

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.