Baillie Gifford & Co. Sells 94,714 Shares of Elevance Health, Inc. (NYSE:ELV)

Baillie Gifford & Co. cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,769,568 shares of the company's stock after selling 94,714 shares during the period. Elevance Health makes up 1.1% of Baillie Gifford & Co.'s holdings, making the stock its 22nd largest position. Baillie Gifford & Co. owned approximately 1.19% of Elevance Health worth $1,440,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Bank & Trust Co acquired a new stake in Elevance Health in the second quarter valued at approximately $27,000. PSI Advisors LLC purchased a new position in Elevance Health during the third quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the second quarter valued at about $28,000. Strategic Financial Concepts LLC bought a new stake in shares of Elevance Health in the second quarter valued at approximately $30,000. Finally, Eastern Bank bought a new stake in Elevance Health during the 3rd quarter worth approximately $31,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ELV. Truist Financial reissued a "buy" rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. TD Cowen dropped their price target 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. UBS Group lowered their price target 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. Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company cut 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $539.20.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company's stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

NYSE:ELV traded down $8.53 during trading hours on Tuesday, hitting $416.86. The company's stock had a trading volume of 1,028,627 shares, compared to its average volume of 1,149,563. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $96.68 billion, a PE ratio of 15.02, a PEG ratio of 1.26 and a beta of 0.85. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The business's 50-day moving average is $486.59 and its two-hundred day moving average is $516.91.

Elevance Health (NYSE:ELV - Get Free Report) 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 during 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $8.99 earnings per share. As a group, research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, December 5th. Elevance Health's dividend payout ratio is presently 23.77%.

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.