Graves Light Lenhart Wealth Inc. Lowers Holdings in Elevance Health, Inc. $ELV

Graves Light Lenhart Wealth Inc. decreased its position in Elevance Health, Inc. (NYSE:ELV) by 32.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,382 shares of the company’s stock after selling 2,123 shares during the period. Graves Light Lenhart Wealth Inc.’s holdings in Elevance Health were worth $1,704,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Elevance Health in the second quarter valued at $7,344,424,000. State Street Corp boosted its stake in Elevance Health by 1.3% during the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after buying an additional 137,914 shares in the last quarter. Wellington Management Group LLP increased its holdings in Elevance Health by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock valued at $3,563,142,000 after buying an additional 984,976 shares during the period. Artisan Partners Limited Partnership increased its holdings in Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after buying an additional 455,946 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in shares of Elevance Health by 1.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company’s stock valued at $1,619,701,000 after buying an additional 55,905 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.9%

ELV opened at $400.80 on Friday. The firm’s 50-day simple moving average is $399.53 and its 200-day simple moving average is $380.95. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The firm has a market cap of $86.92 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.10 and a beta of 0.70.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $8.84 EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 27.21 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Thursday, September 10th were issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of analyst reports. Guggenheim raised their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. The Goldman Sachs Group reissued a “neutral” rating and issued a $395.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a research note on Thursday, July 16th. Leerink Partners lifted their price objective on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Finally, Barclays lifted their price objective on Elevance Health from $457.00 to $469.00 and gave the company an “overweight” rating in a report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $441.48.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.