Elevance Health, Inc. (NYSE:ELV) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 63,829 shares of the company's stock after acquiring an additional 2,172 shares during the period. MML Investors Services LLC's holdings in Elevance Health were worth $33,191,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELV. State Street Corp lifted its stake in Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company's stock valued at $5,557,759,000 after buying an additional 129,709 shares in the last quarter. Sanders Capital LLC increased its position 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 worth $2,396,814,000 after purchasing an additional 44,805 shares in the last quarter. Wellington Management Group LLP raised its stake in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Elevance Health by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company's stock valued at $2,054,641,000 after purchasing an additional 190,118 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ELV shares. Morgan Stanley reduced their target price on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. UBS Group dropped their price target on Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a research report on Friday, October 18th. Wells Fargo & Company reduced their price objective on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Finally, Truist Financial restated a "buy" rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $539.20.

Elevance Health Trading Up 3.5 %

Shares of ELV stock traded up $13.46 during trading on Monday, hitting $395.60. 2,433,026 shares of the stock traded hands, compared to its average volume of 1,207,870. The firm has a market capitalization of $91.75 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm's fifty day moving average price is $431.73 and its 200-day moving average price is $497.93. Elevance Health, Inc. has a 52-week low of $379.29 and a 52-week 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion for the quarter, compared to analysts' expectations of $43.47 billion. During the same period in the previous year, the firm posted $8.99 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.65%. Elevance Health's dividend payout ratio (DPR) is presently 23.77%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business's 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 $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by insiders.

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.