Elevance Health, Inc. (NYSE:ELV) Holdings Trimmed by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 15.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,973 shares of the company’s stock after selling 717 shares during the period. Valeo Financial Advisors LLC’s holdings in Elevance Health were worth $2,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board grew its position in Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after purchasing an additional 1,800 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Elevance Health by 119.7% during the 1st 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 in the last quarter. AMI Investment Management Inc. purchased a new position in shares of Elevance Health during the 3rd quarter valued at $1,294,000. Artemis Investment Management LLP grew its holdings in shares of Elevance Health by 16.1% during the 1st quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock valued at $43,422,000 after acquiring an additional 11,627 shares in the last quarter. Finally, BDF Gestion purchased a new position in shares of Elevance Health during the 2nd quarter valued at $5,837,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,058 shares of company stock valued at $17,588,116. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 2.0 %

Elevance Health stock opened at $501.88 on Friday. The firm has a market cap of $116.65 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a fifty-two week low of $435.99 and a fifty-two week high of $567.26. The firm has a fifty day moving average price of $531.94 and a two-hundred day moving average price of $529.09.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion during 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 business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.04 EPS. As a group, analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Ratings Changes

Several equities analysts have recently commented on ELV shares. Truist Financial boosted their price target on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, July 15th. Stephens restated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a report on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a report on Tuesday, October 1st. Royal Bank of Canada upped their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Morgan Stanley initiated coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $605.07.

About Elevance Health

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.