875 Shares in Elevance Health, Inc. (NYSE:ELV) Bought by Versor Investments LP

Versor Investments LP bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 875 shares of the company’s stock, valued at approximately $455,000.

Several other hedge funds have also modified their holdings of the stock. Bank & Trust Co acquired a new stake in Elevance Health during the 2nd quarter worth about $27,000. PSI Advisors LLC purchased a new position in shares of Elevance Health in the third quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the second quarter valued at approximately $28,000. Strategic Financial Concepts LLC purchased a new stake in shares of Elevance Health in the 2nd quarter valued at approximately $30,000. Finally, Eastern Bank acquired a new position in Elevance Health in the 3rd quarter worth approximately $31,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.9 %

Shares of ELV stock opened at $407.04 on Friday. The business’s 50 day moving average is $480.88 and its two-hundred day moving average is $515.30. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The company has a market cap of $94.40 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.99 earnings per share. Equities analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.60%. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company reduced their price objective 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. 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 research report on Wednesday, October 23rd. Mizuho dropped their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

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.