LVW Advisors LLC Reduces Stock Position in Elevance Health, Inc. (NYSE:ELV)

LVW Advisors LLC lessened its position in Elevance Health, Inc. (NYSE:ELV) by 37.3% during the third quarter, Holdings Channel.com reports. The fund owned 509 shares of the company’s stock after selling 303 shares during the period. LVW Advisors LLC’s holdings in Elevance Health were worth $265,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. FIL Ltd raised its position in Elevance Health by 5.0% during the 4th quarter. FIL Ltd now owns 625,143 shares of the company’s stock valued at $294,792,000 after purchasing an additional 30,050 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $220,000. Beacon Financial Group purchased a new stake in Elevance Health in the fourth quarter worth $809,000. Integrated Advisors Network LLC boosted its holdings in Elevance Health by 1.1% in the fourth quarter. Integrated Advisors Network LLC now owns 3,608 shares of the company’s stock valued at $1,702,000 after acquiring an additional 41 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Elevance Health during the 4th quarter valued at $137,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ELV. Barclays lifted their target price on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company reduced their target price on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Morgan Stanley started coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. Stephens reiterated an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a report on Thursday, September 5th. Finally, Truist Financial boosted their target price on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, July 15th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Buy” and an average price target of $605.07.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock worth $17,588,116 over the last quarter. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $501.88 on Friday. The company has a 50 day moving average of $531.94 and a 200 day moving average of $529.09. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a twelve month low of $435.99 and a twelve month high of $567.26. The firm has a market cap of $116.65 billion, a P/E ratio of 18.97, a PEG ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results 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 return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. During the same period in the prior year, the company posted $9.04 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were issued a dividend of $1.63 per share. The ex-dividend date was Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.30%. Elevance Health’s payout ratio is 24.64%.

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.