PSI Advisors LLC Makes New Investment in Elevance Health, Inc. (NYSE:ELV)

PSI Advisors LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 52 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. New Mexico Educational Retirement Board boosted its position in Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after acquiring an additional 1,800 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after purchasing an additional 6,610 shares in the last quarter. AMI Investment Management Inc. purchased a new stake in Elevance Health in the third quarter worth $1,294,000. BDF Gestion bought a new position in Elevance Health in the second quarter worth $5,837,000. Finally, CWM LLC lifted its position in Elevance Health by 14.5% during the second quarter. CWM LLC now owns 8,433 shares of the company’s stock valued at $4,570,000 after buying an additional 1,068 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated 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 sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $418.75 on Friday. The stock has a market capitalization of $97.33 billion, a price-to-earnings ratio of 15.83, 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. The business’s fifty day moving average price is $519.97 and its 200-day moving average price is $525.88.

Elevance Health (NYSE:ELV) last announced its earnings results 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). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the previous year, the business posted $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current 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 issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.56%. Elevance Health’s dividend payout ratio is currently 24.64%.

Analysts Set New Price Targets

ELV has been the subject of several research reports. Barclays decreased their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Truist Financial restated a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, UBS Group cut their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. One equities 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 company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $551.07.

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.