Farther Finance Advisors LLC Acquires 2,518 Shares of Elevance Health, Inc. $ELV

Key Points

• Farther Finance Advisors increased its Elevance Health stake by 27.1% in the third quarter, adding 2,518 shares to hold 11,826 shares valued at approximately $4.6 million. Institutional investors collectively own 89.24% of the company.
• Elevance Health shares were trading at $412.51, up 2.9%, with a market capitalization of about $89.5 billion. The company recently reported quarterly earnings of $7.45 per share, beating estimates by $1.24, and revenue of $49.83 billion.
• The company paid a quarterly dividend of $1.72 per share, equivalent to an annualized $6.88 dividend and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $441.48.

Farther Finance Advisors LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 27.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,826 shares of the company's stock after purchasing an additional 2,518 shares during the period. Farther Finance Advisors LLC's holdings in Elevance Health were worth $4,598,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Apella Capital LLC increased its position in shares of Elevance Health by 14.5% during the 3rd quarter. Apella Capital LLC now owns 3,357 shares of the company's stock valued at $1,357,000 after purchasing an additional 425 shares during the last quarter. Everhart Financial Group Inc. boosted its holdings in shares of Elevance Health by 4.9% in the 3rd quarter. Everhart Financial Group Inc. now owns 1,621 shares of the company's stock worth $630,000 after buying an additional 76 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Elevance Health by 14.7% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 797 shares of the company's stock worth $310,000 after buying an additional 102 shares during the last quarter. Toth Financial Advisory Corp boosted its holdings in shares of Elevance Health by 6.9% in the 3rd quarter. Toth Financial Advisory Corp now owns 6,398 shares of the company's stock worth $2,488,000 after buying an additional 414 shares during the last quarter. Finally, Whalen Wealth Management Inc. grew its position in Elevance Health by 3.2% during the third quarter. Whalen Wealth Management Inc. now owns 1,098 shares of the company's stock valued at $427,000 after buying an additional 34 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Up 2.9%

ELV opened at $412.51 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The stock has a market cap of $89.46 billion, a PE ratio of 18.33, a PEG ratio of 2.14 and a beta of 0.70. The business has a 50 day moving average of $400.27 and a 200-day moving average of $381.17.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts' expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $8.84 earnings per share. Equities research analysts predict that Elevance Health, Inc. will post 27.22 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

Analysts Set New Price Targets

ELV has been the subject of several research reports. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Raymond James Financial set a $450.00 price objective on shares of Elevance Health in a research report on Tuesday, July 7th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $492.00 to $473.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $395.00 target price on shares of Elevance Health in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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