Syverson Strege & Co Invests $347,000 in Elevance Health, Inc. $ELV

by · The Cerbat Gem

Syverson Strege & Co purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 893 shares of the company’s stock, valued at approximately $347,000.

Several other hedge funds also recently modified their holdings of the business. GAM Holding AG increased its stake in shares of Elevance Health by 0.4% during the 2nd quarter. GAM Holding AG now owns 12,470 shares of the company’s stock worth $4,850,000 after purchasing an additional 53 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Elevance Health by 17.3% in the 2nd quarter. Pinnacle Associates Ltd. now owns 3,452 shares of the company’s stock valued at $1,343,000 after buying an additional 508 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in Elevance Health by 29.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 989 shares of the company’s stock valued at $385,000 after buying an additional 224 shares during the last quarter. Simon Quick Advisors LLC grew its stake in Elevance Health by 67.7% in the 2nd quarter. Simon Quick Advisors LLC now owns 1,296 shares of the company’s stock valued at $504,000 after buying an additional 523 shares during the last quarter. Finally, AdvisorShares Investments LLC grew its stake in Elevance Health by 16.8% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,168 shares of the company’s stock valued at $454,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Leerink Partners reiterated a “market perform” rating and issued a $310.00 target price (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Finally, 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 report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $398.44.

Read Our Latest Stock Analysis on Elevance Health

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $317.05 on Friday. 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 fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a fifty day moving average price of $329.07 and a two-hundred day moving average price of $349.16. The company has a market cap of $70.46 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59.

Elevance Health (NYSE:ELV – Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $8.37 EPS. Analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

Elevance Health Profile

(Free Report)

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.

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