HF Advisory Group LLC Has $2.60 Million Stake in Elevance Health, Inc. $ELV

HF Advisory Group LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 49.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,050 shares of the company’s stock after purchasing an additional 2,666 shares during the quarter. HF Advisory Group LLC’s holdings in Elevance Health were worth $2,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. Aspen Investment Management Inc increased its stake 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 during the last quarter. Nilsine Partners LLC lifted its stake in Elevance Health by 1.5% during the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after purchasing an additional 29 shares during the last quarter. Regatta Capital Group LLC boosted its holdings in shares of Elevance Health by 3.0% in the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock valued at $405,000 after purchasing an additional 30 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Elevance Health by 1.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock valued at $934,000 after purchasing an additional 32 shares in the last quarter. Finally, Accurate Wealth Management LLC increased its stake in shares of Elevance Health by 4.9% in the 2nd quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock valued at $275,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent analyst reports. Bank of America upped their price objective on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Elevance Health in a research note on Monday, December 8th. UBS Group dropped their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, September 5th. Cowen reaffirmed a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Twelve analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $400.83.

Elevance Health Stock Performance

Shares of ELV stock opened at $360.97 on Tuesday. The firm has a market capitalization of $80.22 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.66 and a beta of 0.52. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average price is $335.53 and its 200-day moving average price is $331.60. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75.

Elevance Health (NYSE:ELV) last issued 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 net margin of 2.84% and a return on equity of 16.17%. The business had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. During the same quarter last year, the business earned $8.37 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio is 27.96%.

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.