GABELLI & Co INVESTMENT ADVISERS INC. Makes New $222,000 Investment in Elevance Health, Inc. (NYSE:ELV)

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 500 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. HF Advisory Group LLC lifted its holdings in shares of Elevance Health by 1.1% during the second quarter. HF Advisory Group LLC now owns 1,857 shares of the company’s stock valued at $825,000 after purchasing an additional 21 shares during the last quarter. Roundview Capital LLC lifted its holdings in shares of Elevance Health by 1.2% during the first quarter. Roundview Capital LLC now owns 1,916 shares of the company’s stock valued at $881,000 after purchasing an additional 23 shares during the last quarter. Intelligence Driven Advisers LLC lifted its holdings in shares of Elevance Health by 4.9% during the first quarter. Intelligence Driven Advisers LLC now owns 494 shares of the company’s stock valued at $239,000 after purchasing an additional 23 shares during the last quarter. Key Financial Inc lifted its holdings in shares of Elevance Health by 22.6% during the second quarter. Key Financial Inc now owns 130 shares of the company’s stock valued at $58,000 after purchasing an additional 24 shares during the last quarter. Finally, Mitchell Capital Management Co. lifted its holdings in shares of Elevance Health by 0.3% during the second quarter. Mitchell Capital Management Co. now owns 7,185 shares of the company’s stock valued at $3,192,000 after purchasing an additional 24 shares during the last quarter. 87.80% of the stock is owned by institutional investors.

Insider Transactions at Elevance Health

In other news, CAO Ronald W. Penczek sold 64 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $454.35, for a total value of $29,078.40. Following the completion of the sale, the chief accounting officer now directly owns 2,842 shares in the company, valued at approximately $1,291,262.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $0.66 during midday trading on Friday, hitting $462.95. The company had a trading volume of 983,408 shares, compared to its average volume of 1,174,316. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market cap of $108.77 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.15 and a beta of 0.84. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $544.01. The company has a fifty day moving average of $450.86 and a two-hundred day moving average of $453.64.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, October 18th. The company reported $8.99 EPS for the quarter, topping the consensus estimate of $8.45 by $0.54. The firm had revenue of $42.48 billion during the quarter, compared to analyst estimates of $42.69 billion. Elevance Health had a return on equity of 20.71% and a net margin of 3.61%. Elevance Health’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $7.53 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 33.07 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Wednesday, December 6th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.28%. Elevance Health’s dividend payout ratio (DPR) is 23.24%.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a report on Friday. TD Cowen boosted their price objective on shares of Elevance Health from $564.00 to $585.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. StockNews.com began coverage on shares of Elevance Health in a report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $547.00 price objective on shares of Elevance Health in a report on Thursday, October 19th. Finally, Morgan Stanley boosted their price objective on shares of Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $565.82.

Elevance Health Company Profile

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.