2,987 Shares in Elevance Health, Inc. $ELV Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,987 shares of the company’s stock, valued at approximately $1,162,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Private Wealth Management Group LLC raised its position in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after purchasing an additional 38 shares during the period. WPG Advisers LLC purchased a new stake in Elevance Health in the first quarter valued at $29,000. North Capital Inc. purchased a new stake in Elevance Health in the first quarter valued at $36,000. Glass Jacobson Investment Advisors llc raised its position in Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after purchasing an additional 80 shares during the period. Finally, Saudi Central Bank purchased a new stake in Elevance Health in the first quarter valued at $40,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.9%

Shares of NYSE ELV opened at $336.41 on Thursday. The stock has a market cap of $74.76 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.24 and a beta of 0.59. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The business has a 50-day moving average price of $328.79 and a 200 day moving average price of $350.22.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $8.37 EPS. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.0%. Elevance Health’s dividend payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ELV. Cowen reiterated a “buy” rating on shares of Elevance Health in a report on Thursday, October 23rd. Leerink Partners reiterated a “market perform” rating and issued a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Morgan Stanley boosted their target price on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Guggenheim boosted their target price on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Robert W. Baird lowered their price objective on Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $398.44.

Insider Buying and Selling

In related news, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.