GLOBALT Investments LLC GA Buys 40 Shares of Elevance Health, Inc. (NYSE:ELV)

GLOBALT Investments LLC GA boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,857 shares of the company’s stock after acquiring an additional 40 shares during the period. GLOBALT Investments LLC GA’s holdings in Elevance Health were worth $3,566,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several brokerages recently commented on ELV. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald dropped their price target 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. Royal Bank of Canada dropped their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Finally, Morgan Stanley lowered their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $400.69 on Monday. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The stock has a 50-day moving average price of $475.29 and a 200 day moving average price of $513.44. 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 capitalization of $92.93 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.19 and a beta of 0.85.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the previous year, the business earned $8.99 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed 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 1.63%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

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.