Elevance Health, Inc. $ELV Shares Bought by Smith Salley Wealth Management

Smith Salley Wealth Management lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 26.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,852 shares of the company’s stock after buying an additional 8,226 shares during the quarter. Smith Salley Wealth Management’s holdings in Elevance Health were worth $12,877,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Generate Investment Management Ltd boosted its stake in Elevance Health by 37.7% in the third quarter. Generate Investment Management Ltd now owns 135,000 shares of the company’s stock valued at $43,621,000 after acquiring an additional 36,948 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $352,000. Lawson Kroeker Investment Management Inc. NE boosted its position in Elevance Health by 25.0% during the 3rd quarter. Lawson Kroeker Investment Management Inc. NE now owns 43,258 shares of the company’s stock valued at $13,978,000 after purchasing an additional 8,652 shares during the period. Fort Washington Investment Advisors Inc. OH grew its stake in Elevance Health by 4.8% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 6,168 shares of the company’s stock worth $1,993,000 after buying an additional 284 shares during the last quarter. Finally, Nixon Peabody Trust Co. increased its position in Elevance Health by 0.7% in the third quarter. Nixon Peabody Trust Co. now owns 22,062 shares of the company’s stock worth $7,129,000 after buying an additional 161 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.2%

Shares of Elevance Health stock opened at $348.97 on Wednesday. The business has a fifty day simple moving average of $333.92 and a 200-day simple moving average of $328.64. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a market cap of $77.55 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.61 and a beta of 0.52. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

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

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $1.71 dividend. The ex-dividend date was Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.0%. Elevance Health’s payout ratio is 27.96%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ELV shares. Morgan Stanley reduced their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Weiss Ratings lowered shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Truist Financial set a $400.00 price target on shares of Elevance Health in a research note on Tuesday, October 14th. UBS Group reduced their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Finally, Sanford C. Bernstein lowered their target price on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Twelve equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Hold” and a consensus target price of $396.21.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.