Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Sigma Planning Corp

Sigma Planning Corp raised its position in Elevance Health, Inc. (NYSE:ELV) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,385 shares of the company’s stock after acquiring an additional 109 shares during the quarter. Sigma Planning Corp’s holdings in Elevance Health were worth $1,240,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new position in Elevance Health in the second quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the second quarter worth approximately $28,000. PSI Advisors LLC purchased a new position in Elevance Health in the third quarter worth approximately $27,000. Eastern Bank purchased a new position in Elevance Health in the third quarter worth approximately $31,000. Finally, Crewe Advisors LLC purchased a new position in Elevance Health in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 2.9 %

ELV stock opened at $412.91 on Wednesday. The company has a fifty day moving average price of $486.59 and a 200 day moving average price of $516.91. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The company has a market cap of $95.76 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.26 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm 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 business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.99 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.58%. Elevance Health’s dividend payout ratio is currently 23.77%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. TD Cowen reduced their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Mizuho reduced their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Truist Financial restated a “buy” rating and set a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Profile

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.