Aljian Capital Management LLC Buys New Holdings in Elevance Health, Inc. (NYSE:ELV)

Aljian Capital Management LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,407 shares of the company’s stock, valued at approximately $1,252,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Claro Advisors LLC boosted its position in shares of Elevance Health by 41.7% during the 3rd quarter. Claro Advisors LLC now owns 1,006 shares of the company’s stock valued at $523,000 after acquiring an additional 296 shares in the last quarter. Concord Asset Management LLC VA boosted its holdings in Elevance Health by 11.6% during the third quarter. Concord Asset Management LLC VA now owns 2,013 shares of the company’s stock valued at $1,047,000 after purchasing an additional 210 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Elevance Health during the third quarter valued at approximately $44,000. Focused Investors LLC grew its stake in shares of Elevance Health by 7.2% in the 3rd quarter. Focused Investors LLC now owns 501,600 shares of the company’s stock valued at $260,832,000 after purchasing an additional 33,500 shares during the period. Finally, WESPAC Advisors SoCal LLC raised its holdings in shares of Elevance Health by 21.3% in the 3rd quarter. WESPAC Advisors SoCal LLC now owns 2,481 shares of the company’s stock worth $1,290,000 after buying an additional 435 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s 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 completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ELV. UBS Group decreased their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. 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. Royal Bank of Canada cut their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, Morgan Stanley decreased their price target 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Down 1.6 %

Shares of NYSE:ELV opened at $400.69 on Monday. The company has a 50 day moving average of $475.29 and a 200-day moving average of $513.44. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26. The stock has a market cap of $92.93 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.19 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 posted its quarterly 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the company earned $8.99 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 dividend on an annualized basis and a dividend yield of 1.63%. Elevance Health’s dividend payout ratio 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.