Fisher Asset Management LLC Grows Stake in Elevance Health, Inc. (NYSE:ELV)

Fisher Asset Management LLC lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 838 shares of the company’s stock after purchasing an additional 31 shares during the quarter. Fisher Asset Management LLC’s holdings in Elevance Health were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Private Ocean LLC raised its holdings in Elevance Health by 6.7% in the 2nd quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after acquiring an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. boosted its position in shares of Elevance Health by 1.9% during the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after buying an additional 23 shares during the last quarter. Cypress Wealth Services LLC increased its holdings in Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after buying an additional 23 shares in the last quarter. CVA Family Office LLC raised its position in Elevance Health by 4.2% in the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company’s stock worth $326,000 after buying an additional 24 shares during the last quarter. Finally, FSM Wealth Advisors LLC lifted its stake in Elevance Health by 4.4% during the 2nd quarter. FSM Wealth Advisors LLC now owns 568 shares of the company’s stock valued at $308,000 after acquiring an additional 24 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.0 %

Shares of Elevance Health stock opened at $406.96 on Friday. Elevance Health, Inc. has a fifty-two week low of $391.02 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $94.38 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.20 and a beta of 0.85. The company has a fifty day moving average of $446.87 and a 200 day moving average of $504.38.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the company earned $8.99 EPS. The business’s 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 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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 $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated 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 sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELV. Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. UBS Group decreased their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Cantor Fitzgerald dropped their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company 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.