Elevance Health, Inc. (NYSE:ELV) Holdings Raised by Focused Investors LLC

Focused Investors LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 7.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 501,600 shares of the company's stock after acquiring an additional 33,500 shares during the quarter. Elevance Health comprises approximately 7.9% of Focused Investors LLC's investment portfolio, making the stock its largest holding. Focused Investors LLC owned about 0.22% of Elevance Health worth $260,832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELV. Bank & Trust Co acquired a new position in shares of Elevance Health in the second quarter valued at about $27,000. PSI Advisors LLC acquired a new position in Elevance Health in the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health during the 2nd quarter worth approximately $28,000. Strategic Financial Concepts LLC acquired a new stake in Elevance Health during the 2nd quarter valued at approximately $30,000. Finally, Eastern Bank purchased a new stake in shares of Elevance Health in the 3rd quarter valued at $31,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ELV has been the subject of several analyst reports. UBS Group decreased their price objective on Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a report on Friday, October 18th. Barclays decreased their price target on Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a report on Tuesday, October 22nd. Truist Financial reaffirmed a "buy" rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a report 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 for the company in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $539.20.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business's stock in a transaction dated Friday, October 18th. The shares were 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 in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

Elevance Health Trading Down 1.6 %

NYSE:ELV traded down $6.35 on Friday, reaching $400.69. The company's stock had a trading volume of 2,616,673 shares, compared to its average volume of 2,071,922. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The stock has a 50 day moving average price of $475.29 and a 200 day moving average price of $513.52. The firm has a market cap of $92.93 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.19 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 issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analysts' expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $8.99 earnings per share. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend 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.