Retirement Guys Formula LLC Has $641,000 Stock Position in Elevance Health, Inc. $ELV

Retirement Guys Formula LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 52.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,984 shares of the company’s stock after selling 2,220 shares during the period. Retirement Guys Formula LLC’s holdings in Elevance Health were worth $641,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Trexquant Investment LP acquired a new stake in shares of Elevance Health during the 1st quarter worth $764,000. Focus Partners Advisor Solutions LLC increased its holdings in shares of Elevance Health by 205.1% during the first quarter. Focus Partners Advisor Solutions LLC now owns 2,612 shares of the company’s stock worth $1,136,000 after buying an additional 1,756 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Elevance Health by 59.4% in the 1st quarter. EP Wealth Advisors LLC now owns 3,508 shares of the company’s stock worth $1,526,000 after acquiring an additional 1,307 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Elevance Health by 9.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 106,163 shares of the company’s stock valued at $46,177,000 after buying an additional 9,534 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Elevance Health by 84.3% in the 1st quarter. Advisors Asset Management Inc. now owns 23,799 shares of the company’s stock worth $10,352,000 after buying an additional 10,887 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 0.5%

Elevance Health stock opened at $350.59 on Friday. The business has a fifty day moving average price of $334.12 and a 200-day moving average price of $328.95. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $77.92 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.62 and a beta of 0.51.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $8.37 earnings per share. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ELV shares. Sanford C. Bernstein decreased their target price on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Barclays reduced their price target on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. 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. Finally, Cowen restated a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Twelve investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $396.21.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.