JB Capital LLC Acquires 2,438 Shares of Elevance Health, Inc. $ELV

JB Capital LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 25.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,105 shares of the company’s stock after purchasing an additional 2,438 shares during the quarter. JB Capital LLC’s holdings in Elevance Health were worth $3,911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC grew its stake in Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Elevance Health in the 2nd quarter valued at $32,000. Glass Jacobson Investment Advisors llc grew its holdings in Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Elevance Health during the second quarter worth $43,000. Finally, VSM Wealth Advisory LLC bought a new position in Elevance Health during the second quarter worth about $61,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

ELV stock opened at $348.97 on Wednesday. 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 cap of $77.55 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.61 and a beta of 0.52. The company has a 50 day simple moving average of $333.92 and a 200 day simple moving average of $328.64.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $8.37 earnings per share. Research analysts anticipate 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 issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Barclays lowered their target price on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Truist Financial set a $400.00 price objective on Elevance Health in a report on Tuesday, October 14th. Wells Fargo & Company decreased their price target 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. Bank of America upped their price objective on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, The Goldman Sachs Group initiated coverage on shares of Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company 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.