Seneca House Advisors Has $608,000 Position in Elevance Health, Inc. (NYSE:ELV)

Seneca House Advisors lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,170 shares of the company’s stock after selling 28 shares during the quarter. Seneca House Advisors’ holdings in Elevance Health were worth $608,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brave Warrior Advisors LLC boosted its position in shares of Elevance Health by 7.9% during the fourth quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock valued at $828,367,000 after buying an additional 129,055 shares during the last quarter. New Mexico Educational Retirement Board increased its position in shares of Elevance Health by 14.6% in the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after purchasing an additional 1,800 shares during the last quarter. Blair William & Co. IL raised its position in shares of Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after buying an additional 6,610 shares in the last quarter. Artemis Investment Management LLP lifted its stake in Elevance Health by 16.1% during the first quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock worth $43,422,000 after purchasing an additional 11,627 shares during the last quarter. Finally, BDF Gestion bought a new position in Elevance Health during the second quarter valued at approximately $5,837,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ELV shares. Stephens reiterated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a report on Thursday, September 5th. Morgan Stanley started coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective on the stock. Barclays decreased their price objective on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. Bank of America restated a “neutral” rating and set a $530.00 target price (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $604.29.

Insider Activity at Elevance Health

In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,058 shares of company stock valued at $17,588,116. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 1.2 %

Shares of ELV traded down $6.18 during midday trading on Friday, reaching $492.07. The stock had a trading volume of 1,473,893 shares, compared to its average volume of 1,018,150. The company has a market cap of $114.37 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.17 and a beta of 0.82. 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 company’s fifty day simple moving average is $535.87 and its two-hundred day simple moving average is $529.70. Elevance Health, Inc. has a 1-year low of $435.31 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm posted $9.04 EPS. Equities research analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

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.