Empirical Finance LLC Sells 929 Shares of Elevance Health, Inc. $ELV

Empirical Finance LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 8.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,509 shares of the company’s stock after selling 929 shares during the period. Empirical Finance LLC’s holdings in Elevance Health were worth $3,699,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Verdence Capital Advisors LLC raised its position in shares of Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after acquiring an additional 790 shares in the last quarter. World Investment Advisors grew its stake in Elevance Health by 17.0% during the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock worth $10,671,000 after purchasing an additional 3,988 shares during the period. Dynamic Advisor Solutions LLC grew its stake in Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after purchasing an additional 817 shares during the period. Focus Partners Wealth increased its holdings in Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after purchasing an additional 982 shares in the last quarter. Finally, Generate Investment Management Ltd lifted its stake in Elevance Health by 164.4% in the second quarter. Generate Investment Management Ltd now owns 98,052 shares of the company’s stock valued at $38,138,000 after buying an additional 60,963 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 1.9%

Shares of NYSE ELV opened at $324.64 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The company has a 50-day moving average price of $330.37 and a 200-day moving average price of $339.63. The stock has a market capitalization of $72.15 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75.

Elevance Health (NYSE:ELV) last announced 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 business had revenue of $50.09 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned $8.37 EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal 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 issued 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 2.1%. Elevance Health’s dividend payout ratio is 27.96%.

Analysts Set New Price Targets

Several brokerages have recently commented on ELV. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Elevance Health in a research report on Monday. Bank of America raised their price target on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Truist Financial set a $400.00 price target on shares of Elevance Health in a research note on Tuesday, October 14th. Robert W. Baird cut their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. boosted their target price on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Hold” and a consensus target price of $397.33.

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.