Elevance Health, Inc. (NYSE:ELV) Shares Sold by FMA Wealth Management LLC

FMA Wealth Management LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 5.0% in the third quarter, Holdings Channel reports. The institutional investor owned 475 shares of the company’s stock after selling 25 shares during the quarter. FMA Wealth Management LLC’s holdings in Elevance Health were worth $247,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board raised its position in shares of Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after acquiring an additional 1,800 shares in the last quarter. Blair William & Co. IL grew its position in Elevance Health by 119.7% in the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after purchasing an additional 6,610 shares during the last quarter. AMI Investment Management Inc. bought a new stake in shares of Elevance Health during the third quarter valued at approximately $1,294,000. Artemis Investment Management LLP lifted its holdings in shares of Elevance Health by 16.1% in the first quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock valued at $43,422,000 after buying an additional 11,627 shares during the period. Finally, BDF Gestion bought a new position in Elevance Health during the second quarter valued at about $5,837,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock worth $17,588,116 over the last 90 days. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 4.9 %

ELV stock traded down $25.15 during mid-day trading on Tuesday, hitting $483.87. The stock had a trading volume of 2,207,921 shares, compared to its average volume of 1,027,309. Elevance Health, Inc. has a 1-year low of $435.99 and a 1-year high of $567.26. The company has a fifty day moving average of $531.66 and a 200 day moving average of $529.09. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $112.46 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same quarter in the prior year, the business posted $9.04 EPS. Elevance Health’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Stephens reissued an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a report on Thursday, September 5th. Morgan Stanley began coverage on shares of Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 target price for the company. TD Cowen reduced their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Barclays upped their price target on Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $605.07.

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.