Elevance Health, Inc. (NYSE:ELV) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 6.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,727 shares of the company’s stock after buying an additional 517 shares during the period. Townsquare Capital LLC’s holdings in Elevance Health were worth $4,538,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its holdings in Elevance Health by 6.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,855 shares of the company’s stock valued at $1,480,000 after acquiring an additional 172 shares during the last quarter. Tidal Investments LLC boosted its holdings in Elevance Health by 5.2% during the first quarter. Tidal Investments LLC now owns 6,229 shares of the company’s stock worth $3,230,000 after buying an additional 310 shares in the last quarter. Burney Co. grew its position in Elevance Health by 0.3% in the first quarter. Burney Co. now owns 8,910 shares of the company’s stock worth $4,620,000 after buying an additional 28 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Elevance Health by 493.6% in the first quarter. Cetera Investment Advisers now owns 59,988 shares of the company’s stock valued at $31,107,000 after buying an additional 49,883 shares in the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of Elevance Health by 90.1% during the 1st quarter. Cetera Advisors LLC now owns 11,335 shares of the company’s stock valued at $5,878,000 after acquiring an additional 5,372 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 0.2 %

ELV stock opened at $402.75 on Friday. The firm has a market cap of $93.41 billion, a PE ratio of 14.68, a PEG ratio of 1.21 and a beta of 0.85. Elevance Health, Inc. has a 1 year low of $391.02 and a 1 year high of $567.26. The company has a fifty day simple moving average of $449.52 and a 200 day simple moving average of $505.51. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last announced its quarterly 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). The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $8.99 EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is 23.77%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. TD Cowen dropped their price target 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. UBS Group reduced their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Insider Transactions at Elevance Health

In other 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 completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

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.