CreativeOne Wealth LLC lowered its holdings in Elevance Health, Inc. (NYSE:ELV – Free Report) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,092 shares of the company’s stock after selling 144 shares during the quarter. CreativeOne Wealth LLC’s holdings in Elevance Health were worth $568,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Iridian Asset Management LLC CT boosted its position in Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $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% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after buying an additional 532,016 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of 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 purchasing an additional 9,916 shares during the period. Seizert Capital Partners LLC lifted its stake in Elevance Health by 26.3% in the third quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock valued at $54,199,000 after buying an additional 21,708 shares during the period. Finally, Mizuho Securities USA LLC boosted 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 acquiring an additional 33,231 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. Cantor Fitzgerald dropped their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Truist Financial reissued a “buy” rating and issued a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Mizuho dropped their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $539.20.
Insider Activity at Elevance Health
In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.
Elevance Health Price Performance
Shares of NYSE:ELV opened at $406.96 on Friday. Elevance Health, Inc. has a fifty-two week low of $391.02 and a fifty-two week high of $567.26. The company’s 50-day moving average is $446.87 and its 200 day moving average is $504.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $94.38 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85.
Elevance Health (NYSE:ELV – Get Free Report) last issued its earnings results 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). The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.99 earnings per share. On average, equities research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.
Elevance Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is presently 23.77%.
Elevance Health 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.
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