Graves Light Lenhart Wealth Inc. Sells 2,123 Shares of Elevance Health, Inc. $ELV

Graves Light Lenhart Wealth Inc. lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 32.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,382 shares of the company’s stock after selling 2,123 shares during the period. Graves Light Lenhart Wealth Inc.’s holdings in Elevance Health were worth $1,704,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. LifeGoal Investments LLC acquired a new stake in shares of Elevance Health in the 3rd quarter valued at $256,000. Mn Services Vermogensbeheer B.V. lifted its holdings in Elevance Health by 1.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 64,537 shares of the company’s stock valued at $25,093,000 after buying an additional 1,200 shares during the period. GAMMA Investing LLC boosted its position in shares of Elevance Health by 5.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,075 shares of the company’s stock worth $1,973,000 after purchasing an additional 279 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its position in shares of Elevance Health by 0.8% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 46,767 shares of the company’s stock worth $18,184,000 after buying an additional 369 shares during the period. Finally, Grove Bank & Trust increased its stake in shares of Elevance Health by 6.7% in the 3rd quarter. Grove Bank & Trust now owns 3,275 shares of the company’s stock valued at $1,273,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $400.80 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market cap of $86.92 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.10 and a beta of 0.70. The business has a 50 day simple moving average of $399.53 and a 200 day simple moving average of $380.95. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the prior year, the company earned $8.84 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Analysts anticipate that Elevance Health, Inc. will post 27.21 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Thursday, September 10th were paid a $1.72 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s dividend payout ratio is presently 30.58%.

Wall Street Analyst Weigh In

ELV has been the topic of several recent analyst reports. Royal Bank Of Canada reduced their price objective on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 16th. Raymond James Financial set a $450.00 target price on shares of Elevance Health in a research note on Tuesday, July 7th. Cantor Fitzgerald lifted their price target on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Barclays boosted their price target on shares of Elevance Health from $457.00 to $469.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $441.48.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.