Allen Mooney & Barnes Investment Advisors LLC Invests $15.26 Million in Elevance Health, Inc. $ELV

Allen Mooney & Barnes Investment Advisors LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 47,222 shares of the company’s stock, valued at approximately $15,258,000. Elevance Health makes up 2.4% of Allen Mooney & Barnes Investment Advisors LLC’s investment portfolio, making the stock its 16th largest position.

Other hedge funds have also modified their holdings of the company. Verdence Capital Advisors LLC lifted its position in shares of Elevance Health by 3.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after acquiring an additional 790 shares during the period. OLD National Bancorp IN lifted its position in Elevance Health by 44.8% during the second quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock worth $2,438,000 after purchasing an additional 1,939 shares during the period. Lombard Odier Asset Management Switzerland SA grew its stake in Elevance Health by 14.3% during the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,162 shares of the company’s stock worth $5,508,000 after buying an additional 1,768 shares in the last quarter. World Investment Advisors increased its holdings in Elevance Health by 17.0% in the 2nd quarter. World Investment Advisors now owns 27,434 shares of the company’s stock valued at $10,671,000 after buying an additional 3,988 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Elevance Health by 11.3% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after buying an additional 817 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research analyst reports. TD Cowen raised their target price on Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Wells Fargo & Company reduced their price objective on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Cowen reissued a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Finally, Robert W. Baird increased their target price on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Twelve research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.21.

Elevance Health Price Performance

Shares of NYSE ELV opened at $343.30 on Thursday. The company has a market capitalization of $76.29 billion, a PE ratio of 14.04, a P/E/G ratio of 1.59 and a beta of 0.52. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The firm has a fifty day simple moving average of $334.15 and a 200 day simple moving average of $330.08.

Elevance Health (NYSE:ELV) last issued its 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. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same period in the prior year, the firm earned $8.37 earnings per share. Elevance Health’s revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $1.71 dividend. The ex-dividend date was Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio is presently 27.96%.

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.