Elevance Health, Inc. (NYSE:ELV) is Chiron Investment Management LLC's 9th Largest Position

Chiron Investment Management LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 28.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,121 shares of the company's stock after selling 6,255 shares during the period. Elevance Health makes up approximately 2.9% of Chiron Investment Management LLC's investment portfolio, making the stock its 9th biggest holding. Chiron Investment Management LLC's holdings in Elevance Health were worth $8,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Elevance Health by 26.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,329 shares of the company's stock worth $7,764,000 after purchasing an additional 2,985 shares during the last quarter. ORG Partners LLC grew its position in shares of Elevance Health by 643.8% in the second quarter. ORG Partners LLC now owns 119 shares of the company's stock valued at $64,000 after purchasing an additional 103 shares during the period. Archford Capital Strategies LLC boosted its position in Elevance Health by 2.3% during the second quarter. Archford Capital Strategies LLC now owns 3,355 shares of the company's stock worth $1,818,000 after acquiring an additional 75 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position in Elevance Health by 18.6% during the second quarter. Clear Harbor Asset Management LLC now owns 1,233 shares of the company's stock worth $668,000 after acquiring an additional 193 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Elevance Health by 5.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 565 shares of the company's stock valued at $313,000 after purchasing an additional 29 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $7.95 during trading on Wednesday, hitting $381.91. 907,438 shares of the stock were exchanged, compared to its average volume of 1,210,965. The stock's fifty day moving average is $429.31 and its 200 day moving average is $497.00. The stock has a market cap of $88.57 billion, a PE ratio of 13.95, a P/E/G ratio of 1.14 and a beta of 0.83. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a 12 month low of $379.29 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly 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). The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.99 EPS. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared 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 1.71%. The ex-dividend date is Thursday, December 5th. Elevance Health's payout ratio is 23.77%.

Insider Buying and Selling 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 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 completion of the sale, the executive vice president now directly owns 8,423 shares of the company's stock, valued at approximately $3,639,915.22. This 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. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research analyst reports. Truist Financial reissued a "buy" rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald decreased their price target on shares of Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a research note on Friday, October 18th. Wells Fargo & Company cut 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 report on Monday, November 4th. Finally, UBS Group cut their target price on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a research report on Friday, October 18th. One 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 assigned a strong buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $539.20.

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.