Great Valley Advisor Group Inc. Sells 67 Shares of Elevance Health, Inc. (NYSE:ELV)

Great Valley Advisor Group Inc. trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,039 shares of the company’s stock after selling 67 shares during the period. Great Valley Advisor Group Inc.’s holdings in Elevance Health were worth $2,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ELV. Bank & Trust Co bought a new stake in shares of Elevance Health in the second quarter worth about $27,000. PSI Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health during the 2nd quarter worth $28,000. Strategic Financial Concepts LLC bought a new position in shares of Elevance Health in the 2nd quarter valued at $30,000. Finally, Eastern Bank acquired a new stake in shares of Elevance Health during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Barclays dropped their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley dropped their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Performance

NYSE ELV opened at $402.55 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26. The stock has a market capitalization of $93.36 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.20 and a beta of 0.85. The business’s 50 day moving average is $460.70 and its two-hundred day moving average is $508.84.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $8.99 EPS. Research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

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 given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

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.