Herold Advisors Inc. Purchases 258 Shares of Elevance Health, Inc. (NYSE:ELV)

Herold Advisors Inc. lifted its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,349 shares of the company’s stock after purchasing an additional 258 shares during the period. Herold Advisors Inc.’s holdings in Elevance Health were worth $1,023,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. Financial Security Advisor Inc. bought a new stake in Elevance Health in the 3rd quarter valued at $1,026,000. Campbell & CO Investment Adviser LLC raised its stake in Elevance Health by 290.2% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 5,755 shares of the company’s stock valued at $2,506,000 after acquiring an additional 4,280 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Elevance Health in the 3rd quarter valued at $83,000. HighTower Advisors LLC raised its stake in Elevance Health by 1.1% in the 3rd quarter. HighTower Advisors LLC now owns 82,652 shares of the company’s stock valued at $35,894,000 after acquiring an additional 892 shares during the period. Finally, Pathstone Family Office LLC raised its stake in Elevance Health by 72.1% in the 3rd quarter. Pathstone Family Office LLC now owns 22,208 shares of the company’s stock valued at $9,674,000 after acquiring an additional 9,306 shares during the period. Institutional investors own 87.80% of the company’s stock.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $547.00 target price on shares of Elevance Health in a report on Friday, February 2nd. Morgan Stanley increased their target price on Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Royal Bank of Canada raised their price objective on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a research note on Friday, November 17th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $564.60.

View Our Latest Stock Analysis on Elevance Health

Elevance Health Trading Up 1.0 %

ELV stock traded up $4.96 during mid-day trading on Thursday, reaching $502.75. The company’s stock had a trading volume of 453,547 shares, compared to its average volume of 1,196,069. The company has a market cap of $118.15 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.10 and a beta of 0.78. The business’s 50 day moving average price is $478.05 and its 200 day moving average price is $464.24. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $504.08.

Elevance Health (NYSE:ELVGet Free Report) last announced its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion for the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.23 earnings per share. On average, equities research analysts predict that Elevance Health, Inc. will post 37.14 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.30%. Elevance Health’s payout ratio is presently 23.52%.

About Elevance Health

(Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

See Also

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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