World Investment Advisors LLC Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

World Investment Advisors LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 17,028 shares of the company’s stock, valued at approximately $8,855,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raelipskie Partnership acquired a new position in Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC purchased a new stake in Elevance Health in the third quarter valued at $27,000. Strategic Financial Concepts LLC acquired a new position in shares of Elevance Health in the 2nd quarter valued at $30,000. Eastern Bank purchased a new stake in Elevance Health in the 3rd quarter valued at about $31,000. Finally, Dunhill Financial LLC lifted its position in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ELV shares. Royal Bank of Canada reduced their price target 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. Morgan Stanley cut their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Finally, Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $539.20.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction 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 directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 1.8 %

ELV stock opened at $378.43 on Friday. Elevance Health, Inc. has a fifty-two week low of $377.97 and a fifty-two week high of $567.26. The company’s 50 day moving average price is $424.53 and its 200 day moving average price is $495.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $87.77 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.14 and a beta of 0.83.

Elevance Health (NYSE:ELV) last announced 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). The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $8.99 earnings per share. On average, equities research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

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.