Oxbow Advisors LLC Has $5.42 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Oxbow Advisors LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,426 shares of the company’s stock after purchasing an additional 54 shares during the period. Oxbow Advisors LLC’s holdings in Elevance Health were worth $5,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bedel Financial Consulting Inc. increased its holdings in Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after buying an additional 20 shares during the last quarter. American Trust increased its stake 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 buying an additional 20 shares during the period. Private Ocean LLC increased its stake in shares of Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after buying an additional 22 shares during the period. Hurlow Wealth Management Group Inc. boosted its holdings in Elevance Health by 1.9% in the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after acquiring an additional 23 shares during the last quarter. Finally, Cypress Wealth Services LLC boosted its holdings in Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ELV shares. 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 research report on Friday, October 18th. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. UBS Group reduced their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $6.72 during mid-day trading on Friday, reaching $422.62. 1,569,730 shares of the company’s stock were exchanged, compared to its average volume of 1,147,948. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The firm has a 50-day moving average price of $489.22 and a two-hundred day moving average price of $517.94. The firm has a market capitalization of $98.01 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.24 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced 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 net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the prior year, the firm posted $8.99 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Analysts predict that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

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.