Benjamin Edwards Inc. boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 1,711.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,559 shares of the company's stock after buying an additional 50,603 shares during the quarter. Benjamin Edwards Inc.'s holdings in Elevance Health were worth $27,858,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Sanders Capital LLC lifted its holdings in shares of Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock valued at $2,396,814,000 after purchasing an additional 44,805 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Elevance Health by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company's stock worth $2,054,641,000 after buying an additional 190,118 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock valued at $1,246,574,000 after buying an additional 334,552 shares in the last quarter. Legal & General Group Plc increased its position in shares of Elevance Health by 2.9% in the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company's stock worth $1,217,607,000 after acquiring an additional 64,376 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Elevance Health by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,152,613 shares of the company's stock valued at $1,119,359,000 after acquiring an additional 31,740 shares during the period. Institutional investors own 89.24% of the company's stock.
Elevance Health Stock Performance
ELV stock traded up $3.43 during midday trading on Monday, hitting $410.39. 1,657,770 shares of the company traded hands, compared to its average volume of 1,187,580. The business has a 50 day simple moving average of $446.87 and a 200-day simple moving average of $504.13. 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, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26. The stock has a market capitalization of $95.18 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85.
Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the business earned $8.99 EPS. The business's revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.
Elevance Health Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, December 5th. Elevance Health's dividend payout ratio (DPR) is currently 23.77%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on ELV. Wells Fargo & Company decreased 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. Truist Financial reiterated a "buy" rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Stephens reissued an "underperform" rating on shares of Elevance Health in a research note on Friday, October 18th. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Finally, TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $539.20.
Check Out Our Latest Research Report on Elevance Health
Insiders Place Their Bets
In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.
Elevance Health Profile
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Free Report)
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.
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