Pinnacle Wealth Planning Services Inc. Purchases 172 Shares of Elevance Health, Inc. $ELV

Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 23.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 920 shares of the company’s stock after acquiring an additional 172 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Elevance Health were worth $358,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ELV. WPG Advisers LLC bought a new position in shares of Elevance Health during the 1st quarter valued at $29,000. BOK Financial Private Wealth Inc. purchased a new stake in Elevance Health during the second quarter valued at about $32,000. Glass Jacobson Investment Advisors llc grew its stake in shares of Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares during the last quarter. Saudi Central Bank purchased a new position in shares of Elevance Health in the first quarter worth about $40,000. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Elevance Health in the 2nd quarter valued at about $43,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ELV. UBS Group reduced their price target 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. Barclays cut their target price on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target for the company. Sanford C. Bernstein cut their price target on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Finally, Bank of America upped their price objective on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Twelve equities research 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’s stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Hold” and an average price target of $397.33.

Elevance Health Trading Down 1.9%

NYSE ELV opened at $324.64 on Wednesday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. 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 stock’s fifty day moving average price is $330.37 and its 200-day moving average price is $339.63. The stock has a market cap of $72.15 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (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 the consensus estimate of $49.26 billion. During the same quarter in the prior year, the firm posted $8.37 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders 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 dividend yield of 2.1%. Elevance Health’s payout ratio is currently 27.96%.

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.