Larry Mathis Financial Planning LLC Sells 1,500 Shares of Elevance Health, Inc. $ELV

Larry Mathis Financial Planning LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 54.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,233 shares of the company’s stock after selling 1,500 shares during the period. Larry Mathis Financial Planning LLC’s holdings in Elevance Health were worth $479,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC lifted its stake in Elevance Health by 7.8% in the third quarter. Apollon Wealth Management LLC now owns 4,328 shares of the company’s stock valued at $1,683,000 after purchasing an additional 314 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in Elevance Health by 1.1% during the third quarter. Kingswood Wealth Advisors LLC now owns 6,621 shares of the company’s stock valued at $2,574,000 after purchasing an additional 71 shares during the period. Citizens Financial Group Inc. RI increased its position in Elevance Health by 77.0% in the third quarter. Citizens Financial Group Inc. RI now owns 6,604 shares of the company’s stock worth $2,568,000 after buying an additional 2,873 shares during the last quarter. Simplicity Wealth LLC increased its position in Elevance Health by 1.3% in the third quarter. Simplicity Wealth LLC now owns 1,939 shares of the company’s stock worth $754,000 after buying an additional 25 shares during the last quarter. Finally, Gibbs Wealth Management purchased a new stake in Elevance Health in the third quarter worth $209,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the sale, the chief financial officer directly owned 19,919 shares in the company, valued at approximately $8,766,949.47. The trade was a 34.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Elevance Health Stock Down 1.9%

ELV opened at $431.38 on Tuesday. The company has a 50 day moving average of $408.19 and a 200 day moving average of $371.09. The company has a market cap of $93.20 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.10 and a beta of 0.70. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $450.69. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The business had revenue of $50.44 billion during the quarter, compared to analyst estimates of $49.28 billion. During the same period in the previous year, the business earned $6.03 EPS. Elevance Health’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts expect that Elevance Health, Inc. will post 29.11 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health’s payout ratio is 29.34%.

Analyst Ratings Changes

Several analysts have issued reports on ELV shares. Leerink Partners boosted their target price on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Truist Financial increased their price target on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. UBS Group lifted their price objective on Elevance Health from $460.00 to $523.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank Of Canada boosted their price objective on Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Mizuho set a $490.00 price objective on Elevance Health in a research note on Friday. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $455.57.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.