iA Global Asset Management Inc. Has $38.29 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

iA Global Asset Management Inc. decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 27.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 73,631 shares of the company’s stock after selling 27,848 shares during the period. iA Global Asset Management Inc.’s holdings in Elevance Health were worth $38,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ELV. Private Ocean LLC lifted its holdings in Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after buying an additional 22 shares during the period. Hurlow Wealth Management Group Inc. lifted its stake in shares of Elevance Health by 1.9% in the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after purchasing an additional 23 shares during the period. Cypress Wealth Services LLC boosted its position in shares of Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after purchasing an additional 23 shares in the last quarter. Quotient Wealth Partners LLC grew its stake in Elevance Health by 3.9% during the second quarter. Quotient Wealth Partners LLC now owns 635 shares of the company’s stock worth $344,000 after purchasing an additional 24 shares during the period. Finally, Atomi Financial Group Inc. grew its stake in Elevance Health by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research analyst reports. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Morgan Stanley cut their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. UBS Group decreased their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Barclays cut their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. One investment 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. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Performance

Shares of ELV stock opened at $382.14 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a 50-day moving average of $437.06 and a 200-day moving average of $500.74. Elevance Health, Inc. has a one year low of $379.29 and a one year high of $567.26. The company has a market cap of $88.63 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.21 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 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 analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $8.99 EPS. Equities research analysts forecast that Elevance Health, Inc. will post 32.96 EPS 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 given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

About Elevance Health

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.