Strategic Wealth Partners Ltd. Sells 1,924 Shares of Elevance Health, Inc. (NYSE:ELV)

Strategic Wealth Partners Ltd. cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 28.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,900 shares of the company’s stock after selling 1,924 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Elevance Health were worth $2,548,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Brave Warrior Advisors LLC grew its position in Elevance Health by 7.9% in the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock worth $828,367,000 after purchasing an additional 129,055 shares during the last quarter. New Mexico Educational Retirement Board grew its position in Elevance Health by 14.6% during the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after buying an additional 1,800 shares in the last quarter. Blair William & Co. IL increased its stake in Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after acquiring an additional 6,610 shares during the period. AMI Investment Management Inc. acquired a new position in Elevance Health in the 3rd quarter valued at approximately $1,294,000. Finally, Artemis Investment Management LLP lifted its position in shares of Elevance Health by 16.1% in the 1st quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock worth $43,422,000 after acquiring an additional 11,627 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction 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 transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock worth $17,588,116 over the last three months. 0.35% of the stock is currently owned by company insiders.

Elevance Health Stock Down 0.5 %

NYSE ELV opened at $489.47 on Wednesday. The stock’s 50 day simple moving average is $534.17 and its 200 day simple moving average is $529.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $113.76 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a one year low of $435.99 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.04 EPS. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on ELV. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research report on Tuesday, October 1st. Morgan Stanley started coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target on the stock. Stephens reaffirmed an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a report on Thursday, September 5th. Barclays decreased their target price on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. Finally, Truist Financial increased their price target on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average 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.