Elevance Health, Inc. (NYSE:ELV) Shares Bought by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,857 shares of the company’s stock after purchasing an additional 40 shares during the period. GLOBALT Investments LLC GA’s holdings in Elevance Health were worth $3,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ELV. Iridian Asset Management LLC CT lifted its holdings in Elevance Health by 10.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after buying an additional 3,786 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares in the last quarter. abrdn plc boosted its holdings in Elevance Health by 32.2% in the third quarter. abrdn plc now owns 360,134 shares of the company’s stock valued at $186,540,000 after purchasing an additional 87,717 shares during the period. Mizuho Securities USA LLC grew its stake in Elevance Health by 185.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock worth $26,600,000 after purchasing an additional 33,231 shares in the last quarter. Finally, AMI Investment Management Inc. purchased a new position in shares of Elevance Health in the 3rd quarter valued at about $1,294,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. TD Cowen decreased their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Cantor Fitzgerald decreased their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Truist Financial reissued a “buy” rating and set a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Finally, Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Down 1.6 %

ELV opened at $400.69 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The stock has a market capitalization of $92.93 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.19 and a beta of 0.85. The business has a 50 day simple moving average of $475.29 and a 200-day simple moving average of $513.44.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the prior year, the business posted $8.99 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.63%. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Company Profile

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.