Profund Advisors LLC Acquires 61 Shares of Elevance Health, Inc. (NYSE:ELV)

Profund Advisors LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,778 shares of the company’s stock after purchasing an additional 61 shares during the quarter. Profund Advisors LLC’s holdings in Elevance Health were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ELV. J.Safra Asset Management Corp bought a new position in shares of Elevance Health during the first quarter valued at $25,000. BDO Wealth Advisors LLC lifted its holdings in Elevance Health by 266.7% in the second quarter. BDO Wealth Advisors LLC now owns 55 shares of the company’s stock valued at $25,000 after acquiring an additional 40 shares during the period. Fortis Capital Advisors LLC bought a new position in Elevance Health in the fourth quarter valued at about $29,000. TD Capital Management LLC bought a new position in Elevance Health in the fourth quarter valued at about $30,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Elevance Health by 110.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 99 shares of the company’s stock valued at $44,000 after acquiring an additional 52 shares during the period. 87.80% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com assumed coverage on Elevance Health in a report on Thursday, October 5th. They issued a “strong-buy” rating on the stock. JPMorgan Chase & Co. lowered their target price on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $547.00 target price on shares of Elevance Health in a report on Thursday, October 19th. Morgan Stanley raised their price objective on Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. Finally, TD Cowen raised their price objective on Elevance Health from $564.00 to $585.00 and gave the stock an “outperform” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $565.82.

Elevance Health Price Performance

Shares of ELV stock opened at $465.37 on Tuesday. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $544.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $109.34 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.15 and a beta of 0.84. The stock has a 50 day moving average price of $451.18 and a 200 day moving average price of $453.67.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, October 18th. The company reported $8.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.45 by $0.54. The business 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 previous year, the company posted $7.53 EPS. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.07 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Wednesday, December 6th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Tuesday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.24%.

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.