Atria Investments Inc Sells 1,421 Shares of Elevance Health, Inc. (NYSE:ELV)

Atria Investments Inc lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,548 shares of the company's stock after selling 1,421 shares during the period. Atria Investments Inc's holdings in Elevance Health were worth $10,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Oxbow Advisors LLC raised its holdings in shares of Elevance Health by 0.5% during the third quarter. Oxbow Advisors LLC now owns 10,426 shares of the company's stock valued at $5,421,000 after buying an additional 54 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Elevance Health by 1.8% during the third quarter. Assetmark Inc. now owns 12,135 shares of the company's stock valued at $6,310,000 after buying an additional 220 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Elevance Health by 12.3% during the third quarter. Verdence Capital Advisors LLC now owns 18,661 shares of the company's stock valued at $9,704,000 after buying an additional 2,039 shares during the last quarter. Executive Wealth Management LLC bought a new stake in shares of Elevance Health during the third quarter valued at approximately $10,901,000. Finally, CWA Asset Management Group LLC bought a new stake in shares of Elevance Health during the third quarter valued at approximately $469,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Up 0.7 %

NYSE ELV traded up $2.77 during trading hours on Monday, hitting $425.39. The company's stock had a trading volume of 1,608,049 shares, compared to its average volume of 1,150,060. The stock has a fifty day moving average of $489.22 and a 200 day moving average of $517.72. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The firm has a market capitalization of $98.66 billion, a P/E ratio of 15.51, a PEG ratio of 1.26 and a beta of 0.85. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the prior year, the business earned $8.99 earnings per share. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.53%. Elevance Health's payout ratio is 23.77%.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent analyst reports. Truist Financial reissued a "buy" rating and set a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Bank of America reiterated a "neutral" rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. UBS Group reduced their price objective on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a research note on Friday, October 18th. Finally, TD Cowen reduced their price objective on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $539.20.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Elevance Health Company 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.