Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Sigma Planning Corp

Sigma Planning Corp lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.8% during the third quarter, HoldingsChannel.com reports. The firm owned 2,385 shares of the company’s stock after purchasing an additional 109 shares during the period. Sigma Planning Corp’s holdings in Elevance Health were worth $1,240,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Iridian Asset Management LLC CT boosted its position in shares of Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after buying an additional 3,786 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of 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 worth $276,972,000 after buying an additional 532,016 shares in the last quarter. abrdn plc boosted its position in shares of Elevance Health by 32.2% in the 3rd quarter. abrdn plc now owns 360,134 shares of the company’s stock worth $186,540,000 after buying an additional 87,717 shares in the last quarter. Blair William & Co. IL boosted its position in shares of 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 buying an additional 6,610 shares in the last quarter. Finally, AMI Investment Management Inc. purchased a new stake in shares of Elevance Health in the 3rd quarter worth about $1,294,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. UBS Group reduced their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Mizuho reduced their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, TD Cowen reduced their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Insider Buying and Selling

In related news, 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 completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 2.9 %

Shares of ELV stock opened at $412.91 on Wednesday. The firm has a market cap of $95.76 billion, a P/E ratio of 15.05, a PEG ratio of 1.26 and a beta of 0.85. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm’s 50-day simple moving average is $486.59 and its 200-day simple moving average is $516.91.

Elevance Health (NYSE:ELV) last posted 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). The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $8.99 EPS. As a group, equities analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

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.