Elevance Health, Inc. (NYSE:ELV) Shares Sold by Hofer & Associates. Inc

Hofer & Associates. Inc lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,245 shares of the company’s stock after selling 84 shares during the quarter. Elevance Health comprises about 1.5% of Hofer & Associates. Inc’s investment portfolio, making the stock its 21st biggest holding. Hofer & Associates. Inc’s holdings in Elevance Health were worth $2,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new position in shares of Elevance Health in the second quarter worth approximately $27,000. Palisade Asset Management LLC purchased a new position in shares of Elevance Health during the first quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the second quarter valued at $28,000. Strategic Financial Concepts LLC purchased a new stake in Elevance Health in the 2nd quarter worth about $30,000. Finally, Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter worth about $31,000. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research reports. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday. 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. Morgan Stanley began coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price for the company. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Finally, TD Cowen lowered their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $557.20.

Elevance Health Price Performance

Shares of ELV traded down $2.22 during trading hours on Tuesday, hitting $420.04. The stock had a trading volume of 1,108,592 shares, compared to its average volume of 1,084,008. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The stock has a market capitalization of $97.62 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.08 and a beta of 0.82. The company’s fifty day moving average is $524.68 and its two-hundred day moving average is $527.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

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

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.55%. Elevance Health’s dividend payout ratio is 24.64%.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the 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 transaction, the director now 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 ownership of the stock. The disclosure for this sale can be found here. 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.