Ignite Planners LLC Sells 151 Shares of Elevance Health, Inc. (NYSE:ELV)

Ignite Planners LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 16.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 774 shares of the company’s stock after selling 151 shares during the period. Ignite Planners LLC’s holdings in Elevance Health were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ELV. Waterloo Capital L.P. purchased a new stake in Elevance Health during the 4th quarter worth about $217,000. Cresset Asset Management LLC lifted its holdings in Elevance Health by 10.6% during the 4th quarter. Cresset Asset Management LLC now owns 37,061 shares of the company’s stock worth $17,477,000 after purchasing an additional 3,544 shares in the last quarter. Vista Investment Management lifted its holdings in Elevance Health by 3.4% during the 4th quarter. Vista Investment Management now owns 4,032 shares of the company’s stock worth $1,901,000 after purchasing an additional 134 shares in the last quarter. Ethic Inc. lifted its holdings in Elevance Health by 11.7% during the 4th quarter. Ethic Inc. now owns 23,786 shares of the company’s stock worth $11,216,000 after purchasing an additional 2,494 shares in the last quarter. Finally, Redwood Investment Management LLC lifted its holdings in Elevance Health by 262.9% during the 4th quarter. Redwood Investment Management LLC now owns 3,593 shares of the company’s stock worth $1,694,000 after purchasing an additional 2,603 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 in the last ninety days. 0.35% of the stock is owned by company insiders.

Elevance Health Trading Down 0.5 %

Shares of ELV stock opened at $489.47 on Wednesday. The stock has a market capitalization of $113.76 billion, a PE ratio of 18.50, a P/E/G ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a 1-year low of $435.99 and a 1-year high of $567.26. The business has a 50-day moving average of $535.11 and a 200 day moving average of $529.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $9.04 EPS. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. TD Cowen decreased their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research note on Tuesday, October 1st. Bank of America restated a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Wells Fargo & Company decreased their target price on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Stephens restated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $604.29.

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.