Northwest Investment Counselors LLC Purchases New Holdings in Elevance Health, Inc. (NYSE:ELV)

Northwest Investment Counselors LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 105 shares of the company’s stock, valued at approximately $55,000.

Other institutional investors have also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in shares of Elevance Health in the 2nd quarter worth about $27,000. Palisade Asset Management LLC bought a new stake in Elevance Health in the first quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the second quarter valued at about $28,000. Strategic Financial Concepts LLC bought a new position in shares of Elevance Health during the 2nd quarter valued at approximately $30,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Elevance Health during the 1st quarter worth approximately $32,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on ELV shares. Morgan Stanley began coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. 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 report on Friday. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company reiterated a “buy” rating on shares of Elevance Health in a research note on Friday. Finally, UBS Group dropped their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $565.27.

Elevance Health Trading Down 1.9 %

Shares of Elevance Health stock opened at $422.39 on Tuesday. The company has a 50 day simple moving average of $524.68 and a two-hundred day simple moving average of $527.27. The firm has a market cap of $98.17 billion, a PE ratio of 15.96, a PEG ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last released its 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 3.89% and a return on equity of 20.64%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the prior year, the company earned $8.99 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced 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 1.54%. Elevance Health’s payout ratio is 24.64%.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred 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 directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value 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 approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

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.