Prospera Private Wealth LLC Invests $52,000 in Elevance Health, Inc. (NYSE:ELV)

Prospera Private Wealth LLC bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 100 shares of the company’s stock, valued at approximately $52,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank & Trust Co acquired a new stake in shares of Elevance Health in the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the second quarter worth about $28,000. PSI Advisors LLC bought a new position in shares of Elevance Health in the third quarter worth about $27,000. Eastern Bank acquired a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $31,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Elevance Health during the 3rd quarter valued at approximately $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 1.5 %

Shares of NYSE ELV opened at $403.51 on Friday. 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 firm has a market cap of $93.58 billion, a PE ratio of 14.71, a P/E/G ratio of 1.17 and a beta of 0.85. The company’s fifty day simple moving average is $463.67 and its 200 day simple moving average is $510.08. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion during 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 business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $8.99 earnings per share. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Cantor Fitzgerald cut their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada reduced their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a report on Friday, October 18th. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by insiders.

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.