810 Shares in Elevance Health, Inc. $ELV Bought by Savvy Advisors Inc.

Savvy Advisors Inc. acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 810 shares of the company’s stock, valued at approximately $315,000.

Several other institutional investors have also recently bought and sold shares of ELV. Nuveen LLC acquired a new position in Elevance Health during the first quarter worth $789,943,000. Orbis Allan Gray Ltd raised its holdings in Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after buying an additional 680,228 shares during the last quarter. Vanguard Group Inc. raised its holdings in Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after buying an additional 666,534 shares during the last quarter. Boston Partners raised its holdings in Elevance Health by 241.3% during the first quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after buying an additional 605,689 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Elevance Health by 13.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after buying an additional 324,040 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several analyst reports. Morgan Stanley increased their target price on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. UBS Group lowered their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, September 5th. Cowen reiterated a “buy” rating on shares of Elevance Health in a report on Thursday, October 23rd. TD Cowen increased their target price on shares of Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Truist Financial set a $400.00 target price on shares of Elevance Health in a report on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $398.44.

Elevance Health Price Performance

ELV opened at $317.05 on Friday. The firm has a market cap of $70.46 billion, a P/E ratio of 12.96, a PEG ratio of 1.23 and a beta of 0.59. The firm has a 50-day moving average of $329.07 and a 200 day moving average of $348.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.2%. Elevance Health’s dividend payout ratio is presently 27.96%.

Insiders Place Their Bets

In related news, Director Susan D. Devore purchased 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

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.