Elevance Health, Inc. (NYSE:ELV) Shares Sold by Strategic Advisors LLC

Strategic Advisors LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 50.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,000 shares of the company’s stock after selling 1,000 shares during the quarter. Strategic Advisors LLC’s holdings in Elevance Health were worth $520,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ELV. Bank & Trust Co acquired a new position in shares of Elevance Health in the second quarter worth $27,000. Palisade Asset Management LLC acquired a new position in shares of Elevance Health in the first quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health in the second quarter valued at $28,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health in the second quarter valued at $30,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in Elevance Health in the fourth quarter valued at $32,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 0.0 %

Shares of NYSE ELV traded down $0.09 on Thursday, hitting $493.42. The company had a trading volume of 334,856 shares, compared to its average volume of 1,016,499. Elevance Health, Inc. has a 12-month low of $435.99 and a 12-month high of $567.26. The business has a 50 day moving average of $533.40 and a two-hundred day moving average of $529.32. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $114.68 billion, a P/E ratio of 18.65, a PEG ratio of 1.17 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.04 earnings per share. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.32%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ELV shares. Stephens reiterated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. TD Cowen dropped their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Royal Bank of Canada upped their target price on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research note on Tuesday, October 1st. Finally, Morgan Stanley started coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target for the company. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $604.29.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at $4,926,213.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related 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 transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock worth $17,588,116 over the last quarter. 0.35% of the stock is owned by corporate insiders.

Elevance Health 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.