Mesirow Financial Investment Management Inc. Purchases 62 Shares of Elevance Health, Inc. (NYSE:ELV)

Mesirow Financial Investment Management Inc. lifted its position in Elevance Health, Inc. (NYSE:ELV) by 12.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 555 shares of the company’s stock after buying an additional 62 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Elevance Health were worth $289,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ELV. Pathway Financial Advisers LLC boosted its stake in Elevance Health by 51,967.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after purchasing an additional 656,344 shares during the last quarter. International Assets Investment Management LLC increased 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 worth $276,972,000 after buying an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after buying an additional 523,910 shares during the last quarter. M&G Plc bought a new position in Elevance Health during the 1st quarter valued at about $203,389,000. Finally, Maj Invest Holding A S purchased a new stake in shares of Elevance Health during the 2nd quarter valued at about $173,753,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company cut their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. 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 research report on Friday, October 18th. Finally, Royal Bank of Canada cut their target price on shares of 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 research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Trading Down 2.9 %

ELV stock opened at $412.91 on Wednesday. The company has a market capitalization of $95.76 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.26 and a beta of 0.85. 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 1-year low of $397.98 and a 1-year high of $567.26. The business has a 50 day simple moving average of $486.59 and a two-hundred day simple moving average of $516.91.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for 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 revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $8.99 earnings per share. Research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company 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. This represents a $6.52 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.