Elevance Health, Inc. (NYSE:ELV) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,893 shares of the company's stock after selling 4,696 shares during the period. Chartwell Investment Partners LLC's holdings in Elevance Health were worth $9,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC raised its holdings in shares of Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock worth $341,956,000 after acquiring an additional 656,344 shares during the period. International Assets Investment Management LLC lifted its position in Elevance Health by 85,533.1% during the 3rd 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. Massachusetts Financial Services Co. MA grew its stake in Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company's stock valued at $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. M&G Plc bought a new position in shares of Elevance Health in the first quarter valued at $203,389,000. Finally, Maj Invest Holding A S acquired a new position in Elevance Health during the second quarter worth approximately $173,753,000. 89.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares of the company's stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Bank of America reaffirmed a "neutral" rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Cantor Fitzgerald dropped their target price on Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a research report on Friday, October 18th. Truist Financial reaffirmed a "buy" rating and issued a $520.00 price objective (down previously 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, TD Cowen cut their price objective on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research report on Monday, October 21st. One equities research 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. According to MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target of $539.20.

Elevance Health Trading Up 0.8 %

ELV stock traded up $3.40 during trading on Monday, hitting $426.02. The company had a trading volume of 825,056 shares, compared to its average volume of 1,146,468. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $98.80 billion, a P/E ratio of 15.41, a PEG ratio of 1.28 and a beta of 0.85. The company has a 50 day simple moving average of $489.22 and a 200-day simple moving average of $517.72. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26.

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 the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to analysts' expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Elevance Health's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $8.99 EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

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.