Soltis Investment Advisors LLC Purchases New Position in Elevance Health, Inc. $ELV

Soltis Investment Advisors LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the third quarter, HoldingsChannel reports. The institutional investor acquired 1,288 shares of the company’s stock, valued at approximately $501,000.

Several other institutional investors have also modified their holdings of ELV. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Elevance Health during the second quarter worth about $2,086,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Elevance Health in the 2nd quarter valued at about $970,000. State Street Corp lifted its holdings in shares of Elevance Health by 1.3% in the 2nd quarter. State Street Corp now owns 10,426,610 shares of the company’s stock valued at $4,032,283,000 after purchasing an additional 137,914 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Elevance Health by 27.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 11,826 shares of the company’s stock valued at $4,598,000 after purchasing an additional 2,518 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Elevance Health in the 2nd quarter valued at about $1,765,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total value of $4,658,335.92. Following the transaction, the chief financial officer directly owned 19,919 shares of the company’s stock, valued at approximately $8,766,949.47. The trade was a 34.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELV. Truist Financial raised their price target on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Barclays boosted their price objective on Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Royal Bank Of Canada increased their price objective on Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a report on Thursday, October 22nd. TD Cowen raised their target price on shares of Elevance Health from $465.00 to $495.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Finally, Morgan Stanley raised their target price on shares of Elevance Health from $404.00 to $449.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 22nd. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $456.48.

Elevance Health Stock Down 0.1%

Elevance Health stock opened at $419.67 on Monday. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $450.69. The stock has a 50 day moving average of $410.62 and a two-hundred day moving average of $372.32. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $90.67 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.00 and a beta of 0.70.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. The business had revenue of $50.44 billion for the quarter, compared to analyst estimates of $49.28 billion. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.03 earnings per share. As a group, research analysts expect that Elevance Health, Inc. will post 29.18 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, December 4th. Elevance Health’s dividend payout ratio (DPR) is 29.34%.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.