ASB Consultores LLC Grows Stake in Elevance Health, Inc. (NYSE:ELV)

ASB Consultores LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 37.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 765 shares of the company’s stock after purchasing an additional 208 shares during the period. ASB Consultores LLC’s holdings in Elevance Health were worth $398,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank & Trust Co bought a new stake in Elevance Health in the second quarter worth about $27,000. PSI Advisors LLC purchased a new stake in Elevance Health in the third quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health during the second quarter worth $28,000. Strategic Financial Concepts LLC purchased a new stake in shares of Elevance Health during the second quarter valued at $30,000. Finally, Eastern Bank purchased a new position in Elevance Health in the 3rd quarter worth about $31,000. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ELV. Wells Fargo & Company reduced their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Cantor Fitzgerald cut their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Barclays lowered their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Morgan Stanley cut their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $544.53.

Insider Activity

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 shares were 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 in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $417.86 on Tuesday. The company has a market cap of $96.91 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $499.42 and its 200-day moving average price is $520.76. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week 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 (EPS) 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 analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $8.99 EPS. As a group, equities analysts anticipate that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.56%. Elevance Health’s payout ratio is presently 23.77%.

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.