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

Pinnacle Wealth Planning Services Inc. raised its position in Elevance Health, Inc. (NYSE:ELV) by 23.0% during the second quarter, Holdings Channel reports. 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 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after purchasing an additional 666,534 shares during the period. Sanders Capital LLC increased its holdings in Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares during the last quarter. Orbis Allan Gray Ltd raised its position in Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after acquiring an additional 680,228 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Elevance Health by 13.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after acquiring an additional 324,040 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Elevance Health by 1.2% during the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after acquiring an additional 24,833 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group decreased 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. Guggenheim raised their price objective on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Morgan Stanley increased their target price on shares of Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Finally, Mizuho lowered their price target on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Twelve investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $397.33.

Elevance Health Trading Down 1.9%

ELV stock opened at $324.64 on Wednesday. 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 business has a 50 day simple moving average of $330.37 and a two-hundred day simple moving average of $339.63. The company has a market capitalization of $72.15 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $49.26 billion. During the same quarter last year, the business posted $8.37 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts anticipate 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. Shareholders 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 annualized dividend and a yield of 2.1%. Elevance Health’s payout ratio is presently 27.96%.

About Elevance Health

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.