3Chopt Investment Partners LLC Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

3Chopt Investment Partners LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 516 shares of the company’s stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Bank & Trust Co purchased a new position in shares of Elevance Health during the 2nd quarter valued at $27,000. Pin Oak Investment Advisors Inc. acquired a new position in Elevance Health in the 4th quarter worth about $28,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health during the 1st quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 2nd quarter valued at about $28,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Elevance Health during the 2nd quarter valued at about $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,058 shares of company stock worth $17,588,116. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent research reports. Bank of America reissued a “neutral” rating and set a $530.00 target price (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Morgan Stanley started coverage on shares of Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. Barclays dropped their price target on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Finally, Stephens reiterated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $604.29.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $510.99 on Wednesday. The stock has a market capitalization of $118.76 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.17 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26. The business has a 50-day moving average price of $537.04 and a two-hundred day moving average price of $530.23.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.04 earnings per share. Equities analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.28%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s payout ratio is presently 24.64%.

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.