Elevance Health, Inc. $ELV Shares Newly Purchased by Vise Technologies Inc.

Vise Technologies Inc. bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,564 shares of the company’s stock, valued at approximately $4,496,000.

Several other institutional investors also recently modified their holdings of ELV. Unison Advisors LLC boosted its position in shares of Elevance Health by 0.4% in the 3rd quarter. Unison Advisors LLC now owns 7,495 shares of the company’s stock worth $2,914,000 after purchasing an additional 30 shares during the last quarter. Americana Partners LLC increased its holdings in Elevance Health by 135.6% in the third quarter. Americana Partners LLC now owns 1,423 shares of the company’s stock valued at $553,000 after purchasing an additional 819 shares during the last quarter. Avestar Capital LLC increased its holdings in Elevance Health by 25.5% in the third quarter. Avestar Capital LLC now owns 1,329 shares of the company’s stock valued at $517,000 after purchasing an additional 270 shares during the last quarter. LJI Wealth Management LLC acquired a new position in Elevance Health in the third quarter valued at about $251,000. Finally, State of Wyoming lifted its stake in Elevance Health by 13.6% in the third quarter. State of Wyoming now owns 5,185 shares of the company’s stock valued at $2,016,000 after buying an additional 621 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ELV shares. Leerink Partners raised their target price on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. UBS Group upped their price target on Elevance Health from $460.00 to $523.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Truist Financial increased their price target on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Cantor Fitzgerald lifted their price objective on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Barclays boosted their price objective on shares of Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $456.48.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the sale, the chief financial officer directly owned 19,919 shares in the company, valued at approximately $8,766,949.47. This trade represents a 34.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $413.11 on Wednesday. The company has a market capitalization of $89.26 billion, a PE ratio of 17.62, a PEG ratio of 1.97 and a beta of 0.63. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $450.69. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $411.08 and its 200 day simple moving average is $372.73.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The firm had revenue of $50.44 billion during the quarter, compared to analysts’ expectations of $49.28 billion. During the same period in the previous year, the firm earned $6.03 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, research analysts predict that Elevance Health, Inc. will post 29.18 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 4th. Elevance Health’s dividend payout ratio is presently 29.34%.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.