Elevance Health, Inc. (NYSE:ELV) Shares Bought by Good Life Advisors LLC

Good Life Advisors LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 11.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 625 shares of the company’s stock after buying an additional 63 shares during the period. Good Life Advisors LLC’s holdings in Elevance Health were worth $325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in shares of Elevance Health in the 2nd quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the second quarter valued at approximately $28,000. Palisade Asset Management LLC purchased a new stake in Elevance Health during the first quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new stake in shares of Elevance Health in the first quarter worth $32,000. Finally, Crewe Advisors LLC purchased a new position in shares of Elevance Health in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley started coverage on Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target for the company. Truist Financial reiterated a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a research note on Friday. Royal Bank of Canada decreased their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday. Bank of America reaffirmed a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $572.27.

Elevance Health Price Performance

Shares of NYSE ELV opened at $430.77 on Friday. 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 $100.12 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The business has a 50 day simple moving average of $526.74 and a 200-day simple moving average of $527.66.

Elevance Health (NYSE:ELV) last issued its 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 business had revenue of $44.72 billion for 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 firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,170 shares of company stock worth $20,638,737. 0.35% of the stock is currently owned by company insiders.

Elevance Health 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.