Second Half Financial Partners LLC Acquires New Holdings in Elevance Health, Inc. (NYSE:ELV)

Second Half Financial Partners LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,462 shares of the company’s stock, valued at approximately $3,360,000. Elevance Health makes up approximately 1.8% of Second Half Financial Partners LLC’s holdings, making the stock its 15th biggest position.

A number of other hedge funds also recently bought and sold shares of ELV. Bank & Trust Co purchased a new position in Elevance Health during the 2nd quarter valued at about $27,000. PSI Advisors LLC bought a new position in Elevance Health in the third quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new position in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Strategic Financial Concepts LLC purchased a new position in shares of Elevance Health during the 2nd quarter worth $30,000. Finally, Eastern Bank purchased a new position in Elevance Health during the third quarter valued at $31,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $400.69 on Tuesday. The company’s 50-day moving average price is $472.43 and its 200-day moving average price is $512.56. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $92.93 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.85. Elevance Health, Inc. has a twelve month low of $397.92 and a twelve month high of $567.26.

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 analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion for 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 quarter last year, the company earned $8.99 earnings per share. On average, equities research analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business 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 is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.63%. Elevance Health’s dividend payout ratio is presently 23.77%.

Insiders Place Their Bets

In other Elevance Health 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 completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on ELV shares. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. 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 report on Friday, October 18th. Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

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.