Mount Yale Investment Advisors LLC Acquires 35 Shares of Elevance Health, Inc. (NYSE:ELV)

Mount Yale Investment Advisors LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,010 shares of the company’s stock after acquiring an additional 35 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Elevance Health were worth $2,085,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ELV. New Mexico Educational Retirement Board increased its holdings in shares of Elevance Health by 14.6% in the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after purchasing an additional 1,800 shares during the last quarter. Blair William & Co. IL lifted its position in Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after acquiring an additional 6,610 shares during the last quarter. AMI Investment Management Inc. bought a new position in shares of Elevance Health during the third quarter worth approximately $1,294,000. BDF Gestion acquired a new position in shares of Elevance Health in the second quarter valued at about $5,837,000. Finally, CWM LLC boosted its stake in shares of Elevance Health by 14.5% in the second quarter. CWM LLC now owns 8,433 shares of the company’s stock valued at $4,570,000 after buying an additional 1,068 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Morgan Stanley decreased their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday. Cantor Fitzgerald cut their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Truist Financial reissued a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $551.07.

Elevance Health Stock Performance

NYSE ELV opened at $418.75 on Friday. The company has a market capitalization of $97.33 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The stock has a fifty day simple moving average of $519.97 and a 200 day simple moving average of $525.88. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.99 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.56%. Elevance Health’s dividend payout ratio is currently 24.64%.

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.