Elevance Health, Inc. (NYSE:ELV) Shares Bought by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,046 shares of the company’s stock after purchasing an additional 135 shares during the period. Elevance Health comprises 2.3% of Tandem Capital Management Corp ADV’s holdings, making the stock its 12th largest position. Tandem Capital Management Corp ADV’s holdings in Elevance Health were worth $4,172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank & Trust Co acquired a new position in Elevance Health during the second quarter worth $27,000. PSI Advisors LLC acquired a new stake in Elevance Health in the 3rd quarter worth about $27,000. Palisade Asset Management LLC purchased a new stake in Elevance Health during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health during the second quarter valued at approximately $28,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Elevance Health in the second quarter valued at approximately $30,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of ELV traded up $13.01 during midday trading on Friday, reaching $432.05. 68,104 shares of the stock were exchanged, compared to its average volume of 1,094,552. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $100.42 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.08 and a beta of 0.82. The business’s 50-day moving average price is $519.97 and its 200 day moving average price is $525.88.

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

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 dividend yield of 1.51%. Elevance Health’s payout ratio is currently 24.64%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s 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 transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the business’s 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 transaction, 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 disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on ELV shares. Bank of America reiterated a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. TD Cowen dropped their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday. Finally, Royal Bank of Canada cut their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $551.07.

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.