Elevance Health, Inc. $ELV Shares Sold by Focused Investors LLC

Focused Investors LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 16.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 387,100 shares of the company’s stock after selling 74,500 shares during the period. Elevance Health comprises approximately 6.2% of Focused Investors LLC’s investment portfolio, making the stock its 5th biggest position. Focused Investors LLC’s holdings in Elevance Health were worth $150,512,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ELV. Activest Wealth Management raised its holdings in Elevance Health by 146.2% during the third quarter. Activest Wealth Management now owns 64 shares of the company’s stock valued at $25,000 after buying an additional 38 shares in the last quarter. WealthCollab LLC lifted its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the last quarter. Kilter Group LLC bought a new stake in shares of Elevance Health during the 2nd quarter worth about $28,000. Main Street Group LTD bought a new stake in shares of Elevance Health during the 1st quarter worth about $39,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Elevance Health by 600.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Mark Kaye sold 10,584 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the completion of the sale, the chief financial officer owned 19,919 shares of the company’s stock, valued at approximately $8,766,949.47. This trade represents a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $413.11 on Wednesday. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $450.69. The firm has a market capitalization of $89.26 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.97 and a beta of 0.63. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $411.08 and a 200 day simple moving average of $372.73.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $4.71 by $2.28. The business had revenue of $50.44 billion for the quarter, compared to analyst estimates of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The firm’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $6.03 EPS. Sell-side analysts expect that Elevance Health, Inc. will post 29.18 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 4th. Elevance Health’s dividend payout ratio (DPR) is currently 29.34%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ELV shares. Royal Bank Of Canada raised their price objective on Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research note on Thursday, October 22nd. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a research report on Thursday, July 16th. Wells Fargo & Company increased their price target on Elevance Health from $473.00 to $492.00 and gave the company an “overweight” rating in a report on Tuesday, October 27th. The Goldman Sachs Group reiterated a “neutral” rating and set a $451.00 price target on shares of Elevance Health in a report on Friday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $456.48.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.