4,571 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new position in Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,571 shares of the company’s stock, valued at approximately $2,377,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Private Ocean LLC boosted its position 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 acquiring an additional 22 shares during the period. Cypress Wealth Services LLC grew its position in shares of Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after purchasing an additional 23 shares in the last quarter. Quotient Wealth Partners LLC increased its holdings in shares of Elevance Health by 3.9% in the second quarter. Quotient Wealth Partners LLC now owns 635 shares of the company’s stock worth $344,000 after purchasing an additional 24 shares during the period. Atomi Financial Group Inc. raised its position in shares of Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after buying an additional 25 shares in the last quarter. Finally, Lifeworks Advisors LLC boosted its stake in Elevance Health by 2.5% during the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $381.38 on Friday. The company has a market capitalization of $88.45 billion, a P/E ratio of 13.90, a PEG ratio of 1.15 and a beta of 0.83. Elevance Health, Inc. has a fifty-two week low of $375.29 and a fifty-two week high of $567.26. 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 stock has a 50 day moving average price of $422.32 and a two-hundred day moving average price of $494.43.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 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 for the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the prior year, the company earned $8.99 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current 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 given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ELV. Stephens restated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Barclays decreased their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Truist Financial reissued a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Cantor Fitzgerald dropped their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Profile

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.