Fisher Asset Management LLC Raises Stock Position in Elevance Health, Inc. (NYSE:ELV)

Fisher Asset Management LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 838 shares of the company’s stock after acquiring an additional 31 shares during the quarter. Fisher Asset Management LLC’s holdings in Elevance Health were worth $436,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Private Ocean LLC increased its stake in Elevance Health by 6.7% during the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after acquiring an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. boosted its holdings in shares of Elevance Health by 1.9% in the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock worth $666,000 after purchasing an additional 23 shares during the period. Cypress Wealth Services LLC increased 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 during the last quarter. CVA Family Office LLC raised its holdings in Elevance Health by 4.2% during the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after buying an additional 24 shares during the period. Finally, FSM Wealth Advisors LLC lifted its position in Elevance Health by 4.4% in the second quarter. FSM Wealth Advisors LLC now owns 568 shares of the company’s stock worth $308,000 after buying an additional 24 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.0 %

NYSE ELV opened at $406.96 on Friday. Elevance Health, Inc. has a one year low of $391.02 and a one year 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 company has a market capitalization of $94.38 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85. The company’s 50-day simple moving average is $446.87 and its two-hundred day simple moving average is $504.38.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $8.99 earnings per share. Equities analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 1.60%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Cantor Fitzgerald reduced their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Truist Financial reiterated a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, TD Cowen dropped their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade 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 at the SEC website. 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.