Pathway Financial Advisers LLC Has $341.96 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Pathway Financial Advisers LLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 51,967.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 657,607 shares of the company’s stock after purchasing an additional 656,344 shares during the period. Elevance Health makes up approximately 2.2% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 13th biggest position. Pathway Financial Advisers LLC owned 0.28% of Elevance Health worth $341,956,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC boosted its stake in Elevance Health by 8.8% in the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after buying an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. boosted its stake in shares of Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after purchasing an additional 20 shares in the last quarter. American Trust grew its holdings in shares of Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares during the last quarter. Fiduciary Alliance LLC increased its position in Elevance Health by 3.6% during the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock worth $315,000 after purchasing an additional 21 shares in the last quarter. Finally, Ascent Wealth Partners LLC lifted its stake in Elevance Health by 1.8% in the 1st quarter. Ascent Wealth Partners LLC now owns 1,193 shares of the company’s stock valued at $619,000 after purchasing an additional 21 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Morgan Stanley reduced their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays decreased their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday. Cantor Fitzgerald cut their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Wells Fargo & Company reaffirmed a “buy” rating 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 assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $551.07.

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 on 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 sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This 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 owned by insiders.

Elevance Health Stock Performance

NYSE ELV traded up $6.23 on Friday, hitting $425.27. 2,089,681 shares of the stock traded hands, compared to its average volume of 1,104,316. The firm has a market capitalization of $98.84 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.08 and a beta of 0.82. The business’s fifty day moving average is $517.51 and its two-hundred day moving average is $525.13. 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 12 month low of $397.98 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $8.99 EPS. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is currently 24.64%.

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.