PKO Investment Management Joint Stock Co Purchases 400 Shares of Elevance Health, Inc. $ELV

PKO Investment Management Joint Stock Co boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 11.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,000 shares of the company’s stock after buying an additional 400 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Elevance Health were worth $1,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Verdence Capital Advisors LLC increased its stake in Elevance Health by 3.9% in the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after purchasing an additional 790 shares during the period. Dynamic Advisor Solutions LLC increased its stake in Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after purchasing an additional 817 shares during the period. Focus Partners Wealth increased its stake in Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after purchasing an additional 982 shares during the period. Asio Capital LLC increased its stake in shares of Elevance Health by 7.1% during the second quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after buying an additional 1,015 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Elevance Health by 88.1% during the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after buying an additional 1,588 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 1.1%

Shares of NYSE:ELV opened at $342.45 on Friday. The business has a 50-day moving average price of $327.09 and a 200-day moving average price of $353.39. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market cap of $76.11 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.26 and a beta of 0.59. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.Elevance Health’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $8.37 earnings per share. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ELV. Argus restated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Robert W. Baird cut their price target on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Truist Financial set a $400.00 price target on Elevance Health in a research note on Tuesday, October 14th. TD Cowen raised their price objective on Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday. Finally, UBS Group dropped their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.89.

Insiders Place Their Bets

In related news, Director Susan D. Devore purchased 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

About Elevance Health

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.