TriaGen Wealth Management LLC Invests $1.28 Million in Elevance Health, Inc. (NYSE:ELV)

TriaGen Wealth Management LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,465 shares of the company’s stock, valued at approximately $1,282,000.

Other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC lifted its stake in Elevance Health by 8.8% in the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after buying an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. lifted its stake in Elevance Health by 1.6% in the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after buying an additional 20 shares during the last quarter. American Trust increased its holdings in shares of Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares during the period. Fiduciary Alliance LLC increased its holdings in shares of Elevance Health by 3.6% in the first quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after purchasing an additional 21 shares during the period. Finally, Ascent Wealth Partners LLC increased its holdings in shares of Elevance Health by 1.8% in the first quarter. Ascent Wealth Partners LLC now owns 1,193 shares of the company’s stock valued at $619,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated 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 directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,170 shares of company stock worth $20,638,737 over the last three months. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ELV. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday. Bank of America reaffirmed a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. TD Cowen dropped their price objective on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. UBS Group dropped their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday. Finally, Truist Financial reaffirmed a “buy” rating and set a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a report on Friday. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $572.27.

Elevance Health Price Performance

Elevance Health stock traded down $13.58 during trading hours on Friday, hitting $430.77. The stock had a trading volume of 3,318,980 shares, compared to its average volume of 1,078,559. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The stock’s fifty day moving average is $526.74 and its two-hundred day moving average is $527.46. The stock has a market capitalization of $100.12 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the prior year, the company earned $8.99 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.51%. Elevance Health’s dividend payout ratio is currently 24.64%.

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.