Hilltop Holdings Inc. Acquires 11,450 Shares of Elevance Health, Inc. (NYSE:ELV)

Hilltop Holdings Inc. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2,489.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,910 shares of the company’s stock after purchasing an additional 11,450 shares during the quarter. Hilltop Holdings Inc.’s holdings in Elevance Health were worth $6,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Mather Group LLC. grew its position in Elevance Health by 19.8% in the 2nd quarter. Mather Group LLC. now owns 400 shares of the company’s stock worth $207,000 after purchasing an additional 66 shares during the last quarter. Trust Co. of Vermont increased its stake in Elevance Health by 346.3% during the second quarter. Trust Co. of Vermont now owns 299 shares of the company’s stock valued at $162,000 after acquiring an additional 232 shares during the period. Fulton Bank N.A. raised its holdings in Elevance Health by 2.8% in the 2nd quarter. Fulton Bank N.A. now owns 1,130 shares of the company’s stock valued at $612,000 after acquiring an additional 31 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Elevance Health by 7.6% in the 2nd quarter. Park Avenue Securities LLC now owns 9,138 shares of the company’s stock worth $4,951,000 after acquiring an additional 646 shares during the period. Finally, Apella Capital LLC grew its holdings in shares of Elevance Health by 43.8% during the 2nd quarter. Apella Capital LLC now owns 1,928 shares of the company’s stock worth $1,020,000 after purchasing an additional 587 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ELV. UBS Group cut their target price 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. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company lowered 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 note on Monday, November 4th. Stephens restated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $410.39 on Tuesday. The business has a fifty day moving average of $446.87 and a 200-day moving average of $504.13. The firm has a market cap of $95.18 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share 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 the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $8.99 earnings per share. On average, equities research analysts predict 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. Shareholders of record on Thursday, December 5th will be given 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 1.59%. Elevance Health’s payout ratio is 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.