First Citizens Bank & Trust Co. Has $11.87 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

First Citizens Bank & Trust Co. reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,823 shares of the company’s stock after selling 1,076 shares during the period. First Citizens Bank & Trust Co.’s holdings in Elevance Health were worth $11,868,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Ameriprise Financial Inc. increased its position in Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after acquiring an additional 190,118 shares during the period. Capital International Investors grew its position in Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after purchasing an additional 123,802 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Elevance Health by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after purchasing an additional 64,376 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after buying an additional 523,910 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the topic of several research reports. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday. Cantor Fitzgerald reduced their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday. UBS Group lowered their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday. Finally, Royal Bank of Canada reduced their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $572.27.

Insider Activity

In related 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 transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,170 shares of company stock worth $20,638,737. 0.35% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $430.76 on Friday. The stock has a market capitalization of $100.12 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.08 and a beta of 0.82. The firm’s 50-day moving average price is $526.74 and its two-hundred day moving average price is $527.46. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the firm earned $8.99 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is presently 24.64%.

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.