GSA Capital Partners LLP Takes Position in Elevance Health, Inc. (NYSE:ELV)

GSA Capital Partners LLP 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 & Exchange Commission. The institutional investor bought 996 shares of the company’s stock, valued at approximately $518,000.

A number of other hedge funds have also recently modified their holdings of the business. American Trust grew its stake in Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after purchasing an additional 20 shares in the last quarter. Private Ocean LLC grew its stake in Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after purchasing an additional 22 shares in the last quarter. Hurlow Wealth Management Group Inc. grew its stake in Elevance Health by 1.9% in the second 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 in the last quarter. Cypress Wealth Services LLC grew its stake in Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after purchasing an additional 23 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in Elevance Health by 4.2% in the second quarter. CVA Family Office LLC now owns 602 shares of the company’s stock worth $326,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 1.6 %

ELV stock opened at $394.20 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $391.83 and a 12-month high of $567.26. The stock has a market cap of $91.42 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.19 and a beta of 0.85. The business’s 50-day moving average is $469.43 and its 200 day moving average is $511.63.

Elevance Health (NYSE:ELV) last posted 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). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the previous year, the firm posted $8.99 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.65%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Insiders Place Their Bets

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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ELV shares. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley decreased their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Barclays cut their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One 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 has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

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.