Prospera Private Wealth LLC Takes $52,000 Position in Elevance Health, Inc. (NYSE:ELV)

Prospera Private Wealth LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 100 shares of the company’s stock, valued at approximately $52,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank & Trust Co purchased a new stake in shares of Elevance Health during the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health during the second quarter valued at about $28,000. PSI Advisors LLC bought a new stake in Elevance Health during the third quarter worth about $27,000. Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter worth about $31,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Elevance Health during the 3rd quarter valued at about $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred 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 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 trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 1.5 %

Shares of Elevance Health stock opened at $403.51 on Friday. The company’s fifty day simple moving average is $463.67 and its two-hundred day simple moving average is $510.08. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26. 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 company has a market cap of $93.58 billion, a P/E ratio of 14.71, a PEG ratio of 1.17 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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter last year, the business earned $8.99 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. TD Cowen reduced their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company lowered their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Truist Financial reaffirmed a “buy” rating and set a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Finally, Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

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.