Elevance Health, Inc. (NYSE:ELV) Stock Position Trimmed by Realta Investment Advisors

Realta Investment Advisors decreased its position in Elevance Health, Inc. (NYSE:ELV) by 50.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,403 shares of the company’s stock after selling 1,435 shares during the period. Realta Investment Advisors’ holdings in Elevance Health were worth $714,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ELV. Fullcircle Wealth LLC boosted its position in shares of Elevance Health by 1.5% during the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after buying an additional 26 shares during the period. Farther Finance Advisors LLC boosted its position in Elevance Health by 26.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,523 shares of the company’s stock worth $792,000 after acquiring an additional 317 shares during the period. Roanoke Asset Management Corp NY bought a new position in shares of Elevance Health in the third quarter worth $228,000. Principal Securities Inc. increased its holdings in shares of Elevance Health by 17.5% during the third quarter. Principal Securities Inc. now owns 15,899 shares of the company’s stock valued at $8,268,000 after purchasing an additional 2,369 shares during the period. Finally, Stephens Inc. AR raised its stake in shares of Elevance Health by 3.8% during the third quarter. Stephens Inc. AR now owns 20,878 shares of the company’s stock valued at $10,856,000 after purchasing an additional 756 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent analyst reports. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Morgan Stanley lowered their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a report on Friday, October 18th. TD Cowen decreased their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Cantor Fitzgerald cut their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $551.07.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’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 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’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 value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. 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, Director Ramiro G. Peru sold 753 shares of the 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 owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 2.0 %

Shares of ELV traded up $8.25 during trading hours on Friday, reaching $414.01. The company’s stock had a trading volume of 2,410,171 shares, compared to its average volume of 1,122,558. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $96.02 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 1.22 and a beta of 0.82. The company has a 50 day moving average of $501.96 and a two-hundred day moving average of $521.33. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last released 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). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the previous year, the company earned $8.99 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.57%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

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.