Barlow Wealth Partners Inc. Acquires 369 Shares of Elevance Health, Inc. (NYSE:ELV)

Barlow Wealth Partners Inc. raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,355 shares of the company’s stock after acquiring an additional 369 shares during the period. Elevance Health makes up approximately 1.8% of Barlow Wealth Partners Inc.’s investment portfolio, making the stock its 28th largest position. Barlow Wealth Partners Inc.’s holdings in Elevance Health were worth $13,459,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Waterloo Capital L.P. acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $217,000. Cresset Asset Management LLC grew its stake in shares of Elevance Health by 10.6% in the fourth quarter. Cresset Asset Management LLC now owns 37,061 shares of the company’s stock worth $17,477,000 after purchasing an additional 3,544 shares during the last quarter. Vista Investment Management boosted its position in Elevance Health by 3.4% during the fourth quarter. Vista Investment Management now owns 4,032 shares of the company’s stock valued at $1,901,000 after acquiring an additional 134 shares during the last quarter. Ethic Inc. boosted its position in Elevance Health by 11.7% during the fourth quarter. Ethic Inc. now owns 23,786 shares of the company’s stock valued at $11,216,000 after acquiring an additional 2,494 shares during the last quarter. Finally, Redwood Investment Management LLC boosted its position in Elevance Health by 262.9% during the fourth quarter. Redwood Investment Management LLC now owns 3,593 shares of the company’s stock valued at $1,694,000 after acquiring an additional 2,603 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The shares were 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 directly owns 126,709 shares in the company, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,058 shares of company stock valued at $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock traded up $3.85 on Wednesday, hitting $493.32. 77,656 shares of the company traded hands, compared to its average volume of 1,016,773. The firm’s 50-day simple moving average is $534.17 and its 200 day simple moving average is $529.57. 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 company has a market cap of $114.66 billion, a P/E ratio of 18.50, a P/E/G ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a 12-month low of $435.99 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $9.04 EPS. Analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stephens reiterated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a report on Thursday, September 5th. Morgan Stanley initiated coverage on shares of Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. Bank of America reissued a “neutral” rating and set a $530.00 target price (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research report on Tuesday, October 1st. Finally, Truist Financial raised their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. 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. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Buy” and an average target price of $604.29.

Elevance Health Company Profile

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.