LVW Advisors LLC Sells 303 Shares of Elevance Health, Inc. (NYSE:ELV)

LVW Advisors LLC decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 37.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 509 shares of the company’s stock after selling 303 shares during the period. LVW Advisors LLC’s holdings in Elevance Health were worth $265,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board raised its holdings in shares of Elevance Health by 14.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after purchasing an additional 1,800 shares during the period. Blair William & Co. IL lifted its position in shares of Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after buying an additional 6,610 shares during the last quarter. AMI Investment Management Inc. purchased a new position in shares of Elevance Health during the 3rd quarter valued at $1,294,000. Artemis Investment Management LLP grew its stake in shares of Elevance Health by 16.1% during the 1st quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock worth $43,422,000 after acquiring an additional 11,627 shares during the period. Finally, BDF Gestion purchased a new stake in Elevance Health in the 2nd quarter worth about $5,837,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Up 2.0 %

ELV stock opened at $501.88 on Friday. The company’s 50 day moving average is $531.94 and its 200 day moving average is $529.09. The stock has a market cap of $116.65 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 1.08 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 $435.99 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same quarter in the prior year, the firm earned $9.04 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were issued a dividend of $1.63 per share. The ex-dividend date was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. Elevance Health’s dividend payout ratio is 24.64%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley started coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price for the company. TD Cowen reduced their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Wells Fargo & Company dropped their target price on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada lifted their price target on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Barclays increased their price objective on Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Buy” and an average target price of $605.07.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of the company’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 sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 in the last quarter. 0.35% of the stock is owned by insiders.

Elevance Health Company 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.