Elevance Health, Inc. (NYSE:ELV) Stock Position Raised by Atomi Financial Group Inc.

Atomi Financial Group Inc. lifted its position in Elevance Health, Inc. (NYSE:ELV) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 615 shares of the company’s stock after buying an additional 25 shares during the quarter. Atomi Financial Group Inc.’s holdings in Elevance Health were worth $320,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in Elevance Health in the second quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the second quarter worth $28,000. Palisade Asset Management LLC bought a new position in Elevance Health during the first quarter valued at about $28,000. Register Financial Advisors LLC acquired a new stake in shares of Elevance Health in the first quarter worth about $32,000. Finally, Crewe Advisors LLC bought a new stake in shares of Elevance Health during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $501.88 on Friday. The stock’s 50 day simple moving average is $531.94 and its 200-day simple moving average is $529.09. 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 stock has a market cap of $116.65 billion, a PE ratio of 18.97, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 1 year low of $435.99 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same quarter in the prior year, the company posted $9.04 EPS. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were issued a $1.63 dividend. 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 payout ratio is presently 24.64%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELV. Bank of America restated a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a report on Tuesday, October 1st. TD Cowen dropped their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Morgan Stanley started coverage on shares of Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently 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 on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the firm’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 sale, 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 disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 in the last 90 days. 0.35% of the stock is owned by company 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.