Optimum Investment Advisors Lowers Stock Position in Elevance Health, Inc. $ELV

Optimum Investment Advisors trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 70.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75 shares of the company’s stock after selling 178 shares during the quarter. Optimum Investment Advisors’ holdings in Elevance Health were worth $29,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. raised its holdings in Elevance Health by 18.9% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 17,670 shares of the company’s stock valued at $6,873,000 after acquiring an additional 2,810 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in Elevance Health by 11.4% during the second quarter. Linden Thomas Advisory Services LLC now owns 1,768 shares of the company’s stock valued at $688,000 after acquiring an additional 181 shares during the period. Leavell Investment Management Inc. raised its holdings in Elevance Health by 3.5% during the second quarter. Leavell Investment Management Inc. now owns 3,223 shares of the company’s stock valued at $1,254,000 after acquiring an additional 110 shares during the period. CVA Family Office LLC raised its holdings in Elevance Health by 10.5% during the second quarter. CVA Family Office LLC now owns 621 shares of the company’s stock valued at $242,000 after acquiring an additional 59 shares during the period. Finally, Glass Jacobson Investment Advisors llc raised its holdings in 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 acquiring an additional 80 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Down 1.1%

Shares of NYSE ELV opened at $342.45 on Monday. The business’s 50 day moving average is $327.09 and its two-hundred day moving average is $352.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The stock has a market capitalization of $76.11 billion, a P/E ratio of 14.00, a PEG ratio of 1.25 and a beta of 0.59.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. During the same period in the previous year, the firm posted $8.37 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

Insiders Place Their Bets

In related news, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent analyst reports. Truist Financial set a $400.00 price target on Elevance Health in a report on Tuesday, October 14th. Morgan Stanley raised their price target on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. UBS Group reduced their target price on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. JPMorgan Chase & Co. reduced their target price on Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Finally, Barclays reduced their target price on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $397.89.

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.