Elevance Health, Inc. (NYSE:ELV) Holdings Trimmed by Custom Index Systems LLC

Custom Index Systems LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 54.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 609 shares of the company’s stock after selling 719 shares during the period. Custom Index Systems LLC’s holdings in Elevance Health were worth $317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank & Trust Co acquired a new position in shares of Elevance Health in the 2nd quarter worth approximately $27,000. PSI Advisors LLC bought a new stake in Elevance Health during the third quarter worth approximately $27,000. Palisade Asset Management LLC acquired a new position in Elevance Health in the first quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of Elevance Health in the second quarter valued at $28,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Elevance Health during the 2nd quarter valued at $30,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 1.5 %

Elevance Health stock opened at $425.27 on Monday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The company’s fifty day simple moving average is $515.15 and its 200-day simple moving average is $524.74. The stock has a market cap of $98.84 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.08 and a beta of 0.82.

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

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is presently 24.64%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. UBS Group cut their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Morgan Stanley cut their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Finally, Bank of America restated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $551.07.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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.