Park Avenue Securities LLC Buys 164 Shares of Elevance Health, Inc. (NYSE:ELV)

Park Avenue Securities LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,302 shares of the company’s stock after acquiring an additional 164 shares during the period. Park Avenue Securities LLC’s holdings in Elevance Health were worth $4,837,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank & Trust Co bought a new stake in shares of Elevance Health during the 2nd quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. bought a new stake in Elevance Health during the fourth quarter worth $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the first quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the second quarter valued at $28,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Elevance Health in the 2nd quarter valued at about $30,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. Royal Bank of Canada upped their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Bank of America reiterated a “neutral” rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. TD Cowen cut their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Morgan Stanley started coverage on Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 target price on the stock. Finally, Wells Fargo & Company decreased their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $604.29.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by insiders.

Elevance Health Price Performance

ELV stock traded down $6.18 during mid-day trading on Friday, hitting $492.07. The stock had a trading volume of 1,473,893 shares, compared to its average volume of 1,018,150. The firm has a fifty day simple moving average of $535.87 and a 200 day simple moving average of $529.70. Elevance Health, Inc. has a 52 week low of $435.31 and a 52 week high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $114.37 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.17 and a beta of 0.82.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same period in the prior year, the company earned $9.04 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.33%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

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.