Banque Cantonale Vaudoise Buys 3,788 Shares of Elevance Health, Inc. (NYSE:ELV)

Banque Cantonale Vaudoise raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 32.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,384 shares of the company's stock after buying an additional 3,788 shares during the quarter. Banque Cantonale Vaudoise's holdings in Elevance Health were worth $8,000,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new stake in Elevance Health in the first quarter worth $698,000. Bahl & Gaynor Inc. bought a new stake in Elevance Health in the 1st quarter valued at about $207,000. Lake Street Advisors Group LLC boosted its stake in Elevance Health by 61.5% during the 1st quarter. Lake Street Advisors Group LLC now owns 3,247 shares of the company's stock valued at $1,684,000 after purchasing an additional 1,237 shares during the period. Pitcairn Co. grew its position in Elevance Health by 4.4% in the 1st quarter. Pitcairn Co. now owns 2,529 shares of the company's stock worth $1,311,000 after purchasing an additional 107 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Elevance Health in the first quarter valued at approximately $40,000. 89.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated 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 sale, the executive vice president now directly owns 8,423 shares of the company's stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays reduced their price objective on Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a "buy" rating on the stock in a report on Friday, October 18th. Truist Financial restated a "buy" rating and set a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Stephens reissued an "underperform" rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, Wells Fargo & Company reduced their price target 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. One 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $539.20.

Elevance Health Trading Down 1.6 %

ELV stock traded down $6.50 during mid-day trading on Tuesday, reaching $394.20. 1,999,557 shares of the stock traded hands, compared to its average volume of 1,169,954. Elevance Health, Inc. has a 52-week low of $391.83 and a 52-week high of $567.26. The stock's fifty day moving average is $472.43 and its 200-day moving average is $512.56. The company has a market cap of $91.42 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.19 and a beta of 0.85. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). The firm 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 company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $8.99 EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's dividend payout ratio is currently 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.