754 Shares in Elevance Health, Inc. $ELV Purchased by Thompson Davis & CO. Inc.

Thompson Davis & CO. Inc. purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 754 shares of the company’s stock, valued at approximately $293,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GLOBALT Investments LLC GA increased its stake in shares of Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock valued at $2,743,000 after buying an additional 24 shares during the period. Hemington Wealth Management lifted its stake in Elevance Health by 13.3% in the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after acquiring an additional 27 shares during the period. Aspen Investment Management Inc boosted its holdings in Elevance Health by 2.6% in the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after acquiring an additional 27 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in Elevance Health by 5.3% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock valued at $261,000 after purchasing an additional 30 shares during the period. Finally, Regatta Capital Group LLC raised its holdings in Elevance Health by 3.0% in the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other news, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $325.65 on Thursday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $72.37 billion, a P/E ratio of 13.24, a PEG ratio of 1.23 and a beta of 0.60. The stock’s 50 day moving average is $329.09 and its 200 day moving average is $342.54.

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

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. Elevance Health’s payout ratio is presently 27.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ELV shares. TD Cowen lifted their target price on shares of Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Truist Financial set a $400.00 price objective on Elevance Health in a research report on Tuesday, October 14th. Sanford C. Bernstein reduced their target price on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Leerink Partners reissued a “market perform” rating and issued a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Finally, Weiss Ratings lowered Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $397.33.

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.