Silver Oak Securities Incorporated Acquires 1,741 Shares of Elevance Health, Inc. (NYSE:ELV)

Silver Oak Securities Incorporated grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 791.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,961 shares of the company’s stock after buying an additional 1,741 shares during the period. Silver Oak Securities Incorporated’s holdings in Elevance Health were worth $1,024,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wealthcare Advisory Partners LLC raised its position in shares of Elevance Health by 21.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,459 shares of the company’s stock worth $757,000 after purchasing an additional 254 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Elevance Health by 8.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,344 shares of the company’s stock worth $5,882,000 after purchasing an additional 877 shares during the period. Register Financial Advisors LLC acquired a new position in shares of Elevance Health during the first quarter worth approximately $32,000. Independence Bank of Kentucky raised its position in shares of Elevance Health by 47.4% during the first quarter. Independence Bank of Kentucky now owns 923 shares of the company’s stock worth $479,000 after purchasing an additional 297 shares during the period. Finally, Grimes & Company Inc. acquired a new position in shares of Elevance Health during the first quarter worth approximately $216,000. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was 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 owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated 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 owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Up 1.5 %

Shares of NYSE:ELV opened at $425.35 on Friday. The company has a market capitalization of $98.86 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The business has a fifty day moving average price of $517.51 and a two-hundred day moving average price of $525.13. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26.

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). The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.99 EPS. Analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

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 paid a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.53%. Elevance Health’s payout ratio is 24.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ELV. Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. Truist Financial reaffirmed a “buy” rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. UBS Group lowered their price target 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, Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $551.07.

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.