Atom Investors LP Buys 10,940 Shares of Elevance Health, Inc. (NYSE:ELV)

Atom Investors LP lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 490.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,170 shares of the company's stock after buying an additional 10,940 shares during the quarter. Elevance Health comprises 0.7% of Atom Investors LP's investment portfolio, making the stock its 28th biggest position. Atom Investors LP's holdings in Elevance Health were worth $6,848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Iridian Asset Management LLC CT grew its position in shares of Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company's stock valued at $20,360,000 after purchasing an additional 3,786 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Elevance Health by 85,533.1% in the third 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Elevance Health by 5.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company's stock valued at $109,127,000 after acquiring an additional 9,916 shares during the period. Seizert Capital Partners LLC grew its stake in Elevance Health by 26.3% during the third quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company's stock valued at $54,199,000 after acquiring an additional 21,708 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its holdings in Elevance Health by 185.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company's stock worth $26,600,000 after acquiring an additional 33,231 shares during the period. 89.24% of the stock is owned by institutional investors.

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 transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Up 0.8 %

NYSE:ELV traded up $3.43 during mid-day trading on Monday, hitting $410.39. 1,612,824 shares of the company's stock were exchanged, compared to its average volume of 1,187,386. Elevance Health, Inc. has a one year low of $391.02 and a one year high of $567.26. The business has a fifty day moving average price of $446.87 and a 200 day moving average price of $504.13. The company has a market cap of $95.18 billion, a PE ratio of 14.97, a P/E/G ratio of 1.21 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion for the quarter, compared to analysts' expectations of $43.47 billion. During the same quarter in the previous year, the firm posted $8.99 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's dividend payout ratio (DPR) is currently 23.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ELV shares. Truist Financial restated a "buy" rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Mizuho decreased their price target 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. Cantor Fitzgerald reduced their target price on Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. Royal Bank of Canada dropped their price target on Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a research note on Friday, October 18th. Finally, Stephens reissued an "underperform" rating on shares of Elevance Health in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $539.20.

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.