Elevance Health, Inc. $ELV Stock Purchased by Brighton Jones LLC

Brighton Jones LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 48.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,025 shares of the company’s stock after buying an additional 1,965 shares during the period. Brighton Jones LLC’s holdings in Elevance Health were worth $2,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Elevance Health in the second quarter valued at about $7,344,424,000. Bank of New York Mellon Corp purchased a new position in Elevance Health in the second quarter worth about $1,246,349,000. Legal & General Group Plc bought a new stake in shares of Elevance Health during the 2nd quarter valued at about $688,469,000. Amundi grew its stake in shares of Elevance Health by 145.7% during the 1st quarter. Amundi now owns 2,693,664 shares of the company’s stock valued at $788,570,000 after purchasing an additional 1,597,497 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Elevance Health during the 2nd quarter valued at about $591,084,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $417.73 on Tuesday. The stock has a market cap of $90.26 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.07 and a beta of 0.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.47. The stock’s fifty day moving average is $413.37 and its 200 day moving average is $373.82. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $450.69.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.71 by $2.28. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The business had revenue of $50.44 billion during the quarter, compared to analyst estimates of $49.28 billion. During the same quarter in the previous year, the company posted $6.03 earnings per share. Elevance Health’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts anticipate that Elevance Health, Inc. will post 29.15 earnings per share for the current year.

Elevance Health Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ELV. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. Barclays raised their price objective on shares of Elevance Health from $469.00 to $472.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Royal Bank Of Canada boosted their target price on shares of Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research report on Thursday, October 22nd. Wells Fargo & Company boosted their target price on shares of Elevance Health from $473.00 to $492.00 and gave the company an “overweight” rating in a research report on Tuesday, October 27th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $451.00 target price on shares of Elevance Health in a report on Friday, October 23rd. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $456.48.

Insider Transactions at Elevance Health

In related news, EVP Ratnakar Lavu sold 1,300 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $440.00, for a total value of $572,000.00. Following the completion of the sale, the executive vice president directly owned 14,849 shares of the company’s stock, valued at approximately $6,533,560. This represents a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Kaye sold 10,584 shares of the firm’s stock in a transaction that occurred 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 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 disclosure for this sale is available in the SEC filing. 0.34% of the stock is owned by insiders.

About Elevance Health

Elevance Health, Inc is a U.S. health benefits and services company. Formerly known as Anthem, Inc, it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans.

The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.

Elevance Health operates primarily in the United States, with health plans serving members across multiple states and access to broader provider networks through its Blue Cross Blue Shield affiliations.