Elevance Health, Inc. (NYSE:ELV) Shares Bought by DT Investment Partners LLC

DT Investment Partners LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 644 shares of the company’s stock after buying an additional 30 shares during the quarter. DT Investment Partners LLC’s holdings in Elevance Health were worth $335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares during the last quarter. M&G Plc purchased a new stake in shares of Elevance Health in the first quarter valued at approximately $203,389,000. Maj Invest Holding A S acquired a new stake in shares of Elevance Health in the second quarter valued at approximately $173,753,000. Finally, First Eagle Investment Management LLC lifted its position in Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after buying an additional 275,708 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Elevance Health news, 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 sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The stock was 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 of the company’s stock, valued at approximately $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. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $418.75 on Friday. The business’s fifty day moving average price is $519.97 and its 200 day moving average price is $525.88. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. 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 company has a market capitalization of $97.33 billion, a PE ratio of 15.83, a P/E/G ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued its quarterly 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). The business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $8.99 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared 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 of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.56%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ELV shares. Cantor Fitzgerald dropped their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Barclays dropped their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a research note on Friday, October 18th. Morgan Stanley decreased their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $551.07.

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.