Elevance Health, Inc. (NYSE:ELV) Position Trimmed by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 550 shares of the company’s stock after selling 29 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Elevance Health were worth $286,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in shares of 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 worth $276,972,000 after acquiring an additional 532,016 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in Elevance Health by 14.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after purchasing an additional 1,800 shares in the last quarter. Blair William & Co. IL raised its holdings in Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after buying an additional 6,610 shares during the period. AMI Investment Management Inc. purchased a new stake in Elevance Health during the third quarter valued at about $1,294,000. Finally, BDF Gestion acquired a new position in shares of Elevance Health in the second quarter worth about $5,837,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.5 %

ELV stock opened at $425.35 on Friday. The firm has a market cap of $98.86 billion, a PE ratio of 16.08, a PEG ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26. The company has a fifty day simple moving average of $517.51 and a 200 day simple moving average of $525.13. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results 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 company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $8.99 EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 37.26 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. Shareholders of record on Thursday, December 5th will be issued 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 yield of 1.53%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ELV shares. Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a report on Friday, October 18th. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday. Cantor Fitzgerald dropped their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $551.07.

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.