Elevance Health, Inc. $ELV Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,291 shares of the company’s stock after selling 18,002 shares during the period. Mawer Investment Management Ltd. owned about 0.08% of Elevance Health worth $65,824,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Aberdeen Group plc increased its stake in Elevance Health by 6.2% in the third quarter. Aberdeen Group plc now owns 298,585 shares of the company’s stock valued at $116,096,000 after purchasing an additional 17,561 shares during the last quarter. ProVise Management Group LLC lifted its position in shares of Elevance Health by 11.8% during the 3rd quarter. ProVise Management Group LLC now owns 29,275 shares of the company’s stock worth $11,383,000 after buying an additional 3,094 shares during the last quarter. Valmark Advisers Inc. boosted its holdings in shares of Elevance Health by 107.7% in the 3rd quarter. Valmark Advisers Inc. now owns 2,605 shares of the company’s stock valued at $1,013,000 after buying an additional 1,351 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Elevance Health by 11.0% in the 3rd quarter. Allworth Financial LP now owns 2,222 shares of the company’s stock valued at $859,000 after buying an additional 220 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Elevance Health by 3.0% in the 3rd quarter. Fisher Asset Management LLC now owns 1,660 shares of the company’s stock valued at $646,000 after buying an additional 49 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ELV. TD Cowen lifted their price target on shares of Elevance Health from $465.00 to $495.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Royal Bank Of Canada upped their price objective on shares of Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research note on Thursday, October 22nd. UBS Group raised their price objective on Elevance Health from $460.00 to $523.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Wells Fargo & Company lifted their target price on Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 27th. Finally, Barclays boosted their target price on Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $456.48.

Elevance Health Stock Performance

NYSE ELV traded down $0.40 during trading on Friday, reaching $429.50. The company’s stock had a trading volume of 779,067 shares, compared to its average volume of 1,383,342. The business’s fifty day moving average price is $415.40 and its 200-day moving average price is $375.20. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $450.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $92.80 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 2.05 and a beta of 0.63.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, topping the consensus estimate of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The business had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. During the same quarter in the prior year, the firm earned $6.03 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 29.15 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, December 4th. Elevance Health’s dividend payout ratio (DPR) is 29.34%.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares of the company’s stock, valued at approximately $8,766,949.47. The trade was a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ratnakar Lavu sold 1,300 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $440.00, for a total value of $572,000.00. Following the sale, the executive vice president owned 14,849 shares of the company’s stock, valued at $6,533,560. This trade represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.34% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.