Rep. Jared Moskowitz Buys Elevance Health, Inc. (NYSE:ELV) Shares

by · The Markets Daily

Representative Jared Moskowitz (D-Florida) recently bought shares of Elevance Health, Inc. (NYSE:ELV). In a filing disclosed on December 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Elevance Health stock on November 8th. The trade occurred in the Representative’s “MORGAN STANLEY ACTIVE ASSETS (5)” account.

Representative Jared Moskowitz also recently made the following trade(s):

  • Purchased $1,001 – $15,000 in shares of Atmos Energy (NYSE:ATO) on 11/8/2024.
  • Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/8/2024.
  • Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 11/8/2024.
  • Purchased $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 11/8/2024.
  • Purchased $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 11/8/2024.
  • Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/8/2024.
  • Purchased $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 11/8/2024.
  • Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 11/8/2024.
  • Sold $50,001 – $100,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.
  • Sold $15,001 – $50,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.

Elevance Health Stock Down 1.1 %

Elevance Health stock opened at $385.61 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company’s 50-day moving average is $429.31 and its 200-day moving average is $497.00. The firm has a market capitalization of $89.43 billion, a PE ratio of 14.06, a P/E/G ratio of 1.14 and a beta of 0.83. Elevance Health, Inc. has a fifty-two week low of $379.29 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV – Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the prior year, the company earned $8.99 EPS. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ELV shares. Raymond James set a $485.00 price objective on shares of Elevance Health in a research report on Friday, October 18th. Wells Fargo & Company lowered their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada reduced their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, TD Cowen reduced their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $539.20.

Read Our Latest Analysis on ELV

Institutional Trading of Elevance Health

Large investors have recently made changes to their positions in the company. RFG Advisory LLC increased its stake in shares of Elevance Health by 2.5% in the 2nd quarter. RFG Advisory LLC now owns 2,067 shares of the company’s stock valued at $1,120,000 after purchasing an additional 51 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in Elevance Health by 1.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 6,234 shares of the company’s stock valued at $3,378,000 after acquiring an additional 65 shares during the last quarter. LVW Advisors LLC raised its stake in Elevance Health by 13.7% during the second quarter. LVW Advisors LLC now owns 812 shares of the company’s stock worth $440,000 after acquiring an additional 98 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Elevance Health by 4.2% in the second quarter. Sequoia Financial Advisors LLC now owns 6,328 shares of the company’s stock worth $3,429,000 after acquiring an additional 253 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of Elevance Health by 12.4% in the 2nd quarter. Wedmont Private Capital now owns 2,083 shares of the company’s stock valued at $1,116,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida’s 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state’s Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor’s degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz’s career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

About Elevance Health

(Get 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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