ASB Consultores LLC Has $398,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

ASB Consultores LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 37.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 765 shares of the company’s stock after buying an additional 208 shares during the quarter. ASB Consultores LLC’s holdings in Elevance Health were worth $398,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Bank & Trust Co acquired a new position in Elevance Health in the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health in the second quarter valued at about $28,000. PSI Advisors LLC bought a new stake in Elevance Health during the third quarter worth about $27,000. Eastern Bank acquired a new stake in Elevance Health during the third quarter worth about $31,000. Finally, Crewe Advisors LLC bought a new position in Elevance Health in the 1st quarter valued at about $40,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $417.86 on Tuesday. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $96.91 billion, a P/E ratio of 15.23, a PEG ratio of 1.23 and a beta of 0.85. The stock’s 50 day moving average is $499.42 and its 200 day moving average is $520.76.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $8.99 EPS. On average, equities research analysts predict that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ELV shares. Royal Bank of Canada reduced their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Morgan Stanley decreased their target price 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. Barclays lowered their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Bank of America restated a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald dropped their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $544.53.

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.