Sequoia Financial Advisors LLC Increases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Sequoia Financial Advisors LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.3% in the third quarter, Holdings Channel.com reports. The firm owned 6,665 shares of the company’s stock after purchasing an additional 337 shares during the period. Sequoia Financial Advisors LLC’s holdings in Elevance Health were worth $3,466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELV. Capital Advisors Ltd. LLC raised its stake in Elevance Health by 8.8% during the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after buying an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. raised its stake in Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after buying an additional 20 shares in the last quarter. American Trust raised its stake in Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 shares in the last quarter. Fiduciary Alliance LLC grew its holdings in shares of Elevance Health by 3.6% during the first quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after purchasing an additional 21 shares during the last quarter. Finally, Ascent Wealth Partners LLC grew its holdings in shares of Elevance Health by 1.8% during the first quarter. Ascent Wealth Partners LLC now owns 1,193 shares of the company’s stock valued at $619,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ELV. UBS Group lowered their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. TD Cowen lowered their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a report on Friday, October 18th. Truist Financial reaffirmed a “buy” rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Barclays lowered their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $551.07.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction 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 of the company’s stock, 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 through the SEC website. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. 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 through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the firm’s 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 1.0 %

NYSE ELV opened at $415.54 on Thursday. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $96.58 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The firm’s fifty day simple moving average is $519.97 and its 200-day simple moving average is $525.88.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the company posted $8.99 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 24.64%.

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.