Creative Planning Reduces Position in Elevance Health, Inc. (NYSE:ELV)

Creative Planning decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,334 shares of the company’s stock after selling 822 shares during the period. Creative Planning’s holdings in Elevance Health were worth $15,774,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ELV. Massachusetts Financial Services Co. MA increased its position in Elevance Health by 34.0% during the second 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 in the last quarter. M&G Plc purchased a new position in Elevance Health during the first quarter worth $203,389,000. Maj Invest Holding A S purchased a new position in Elevance Health during the second quarter worth $173,753,000. First Eagle Investment Management LLC increased its position in Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after buying an additional 275,708 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after buying an additional 190,118 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ELV. Bank of America reissued a “neutral” rating and set a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday. Barclays lifted their price objective on Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $565.27.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s 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 of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Down 1.9 %

Shares of NYSE ELV opened at $422.39 on Tuesday. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26. The firm has a market cap of $98.17 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50-day simple moving average is $524.68 and its 200-day simple moving average is $527.27.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.99 earnings per share. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.