Westbourne Investment Advisors Inc. Purchases 159 Shares of Elevance Health, Inc. (NYSE:ELV)

Westbourne Investment Advisors Inc. increased its position in Elevance Health, Inc. (NYSE:ELV) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,130 shares of the company’s stock after purchasing an additional 159 shares during the quarter. Elevance Health makes up 2.2% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 16th biggest position. Westbourne Investment Advisors Inc.’s holdings in Elevance Health were worth $6,308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Catalytic Wealth RIA LLC acquired a new stake in shares of Elevance Health during the first quarter worth $291,000. Norden Group LLC bought a new stake in shares of Elevance Health in the 1st quarter valued at about $227,000. Diversify Advisory Services LLC bought a new stake in shares of Elevance Health in the 1st quarter valued at about $337,000. Janney Montgomery Scott LLC raised its position in shares of Elevance Health by 5.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,453 shares of the company’s stock valued at $14,754,000 after acquiring an additional 1,519 shares during the period. Finally, Resonant Capital Advisors LLC acquired a new position in Elevance Health during the first quarter valued at approximately $227,000. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent analyst reports. Raymond James set a $485.00 price objective on shares of Elevance Health in a research report on Friday, October 18th. Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company reiterated a “buy” rating on shares of Elevance Health in a report on Friday, October 18th. Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, TD Cowen cut their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $551.07.

Elevance Health Stock Up 2.0 %

Shares of NYSE:ELV traded up $8.25 during trading on Friday, hitting $414.01. 2,410,171 shares of the company were exchanged, compared to its average volume of 1,122,558. The stock has a market cap of $96.02 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 1.22 and a beta of 0.82. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The firm has a fifty day moving average price of $501.96 and a two-hundred day moving average price of $521.43.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the company posted $8.99 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Elevance Health Company 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.