Elevance Health, Inc. (NYSE:ELV) Shares Sold by Creative Planning

Creative Planning cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 30,334 shares of the company’s stock after selling 822 shares during the period. Creative Planning’s holdings in Elevance Health were worth $15,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank & Trust Co acquired a new position in shares of Elevance Health during the second quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the second quarter worth approximately $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the first quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new stake in Elevance Health in the first quarter worth approximately $32,000. Finally, Crewe Advisors LLC acquired a new stake in Elevance Health in the first quarter worth approximately $40,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America restated a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Raymond James set a $485.00 target price on Elevance Health in a research report on Friday. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley assumed coverage on Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price for the company. Finally, Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $565.27.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’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 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. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $422.39 on Tuesday. The company’s fifty day moving average is $524.68 and its two-hundred day moving average is $527.27. 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 has a market cap of $98.17 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the firm earned $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that Elevance Health, Inc. will post 37.26 earnings per share 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 dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 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.