Independent Advisor Alliance Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Independent Advisor Alliance cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,501 shares of the company’s stock after selling 512 shares during the period. Independent Advisor Alliance’s holdings in Elevance Health were worth $4,421,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Iridian Asset Management LLC CT raised its holdings in Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after acquiring an additional 3,786 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Elevance Health by 85,533.1% in the 3rd 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 during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Elevance Health by 5.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock valued at $109,127,000 after acquiring an additional 9,916 shares during the last quarter. Seizert Capital Partners LLC raised its holdings in Elevance Health by 26.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock valued at $54,199,000 after acquiring an additional 21,708 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in Elevance Health by 185.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock valued at $26,600,000 after acquiring an additional 33,231 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 0.3 %

Shares of NYSE ELV opened at $402.55 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average price of $460.70 and a 200 day moving average price of $508.84. The company has a market cap of $93.36 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.20 and a beta of 0.85. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.62%. Elevance Health’s payout ratio is 23.77%.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The shares were 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 owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research analyst reports. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho dropped their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. TD Cowen dropped their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, UBS Group dropped their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

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.