Bahl & Gaynor LLC Makes New Investment in Elevance Health, Inc. $ELV

Bahl & Gaynor LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 156,908 shares of the company’s stock, valued at approximately $61,009,000.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management increased its holdings in shares of Elevance Health by 146.2% during the 3rd quarter. Activest Wealth Management now owns 64 shares of the company’s stock valued at $25,000 after acquiring an additional 38 shares during the last quarter. WealthCollab LLC lifted its holdings in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Kilter Group LLC acquired a new stake in Elevance Health in the 2nd quarter worth approximately $28,000. Main Street Group LTD bought a new stake in Elevance Health during the first quarter worth approximately $39,000. Finally, Elevation Wealth Partners LLC grew its holdings in Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $429.48 on Wednesday. The firm’s 50-day moving average is $414.10 and its 200-day moving average is $374.11. The company has a market cap of $92.79 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 2.00 and a beta of 0.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.47. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $450.69.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The business had revenue of $50.44 billion during the quarter, compared to analysts’ expectations of $49.28 billion. During the same quarter last year, the company earned $6.03 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. Equities research analysts anticipate that Elevance Health, Inc. will post 29.15 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. Elevance Health’s dividend payout ratio (DPR) is currently 29.34%.

Insider Activity at Elevance Health

In other news, EVP Ratnakar Lavu sold 1,300 shares of Elevance Health stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $440.00, for a total transaction of $572,000.00. Following the sale, the executive vice president owned 14,849 shares of the company’s stock, valued at approximately $6,533,560. This trade represents a 8.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Kaye sold 10,584 shares of the company’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total value of $4,658,335.92. Following the completion of the transaction, the chief financial officer owned 19,919 shares of the company’s stock, valued at $8,766,949.47. The trade was a 34.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Elevance Health from $473.00 to $492.00 and gave the company an “overweight” rating in a research note on Tuesday, October 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $451.00 target price on shares of Elevance Health in a research report on Friday, October 23rd. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Leerink Partners raised their price target on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Finally, UBS Group lifted their price objective on Elevance Health from $460.00 to $523.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $456.48.

Elevance Health Company Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.