Verity Asset Management Inc. Purchases 260 Shares of Elevance Health, Inc. (NYSE:ELV)

Verity Asset Management Inc. raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 17.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,762 shares of the company’s stock after purchasing an additional 260 shares during the quarter. Verity Asset Management Inc.’s holdings in Elevance Health were worth $841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank & Trust Co bought a new position in Elevance Health in the 2nd quarter valued at approximately $27,000. PSI Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the second quarter worth $28,000. Strategic Financial Concepts LLC acquired a new stake in shares of Elevance Health during the second quarter worth $30,000. Finally, Eastern Bank bought a new position in Elevance Health during the third quarter worth $31,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Barclays decreased 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 note on Tuesday, October 22nd. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. Finally, TD Cowen dropped their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Up 0.1 %

ELV stock opened at $429.22 on Friday. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The stock has a market cap of $99.54 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.24 and a beta of 0.85. The stock’s fifty day simple moving average is $494.37 and its two-hundred day simple moving average is $519.32. 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 posted its quarterly earnings data 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). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter last year, the business posted $8.99 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 yield of 1.52%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s 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 transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $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 is available at the SEC website. Company insiders own 0.29% of the company’s stock.

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.