Elevance Health, Inc. (NYSE:ELV) Shares Purchased by TCW Group Inc.

TCW Group Inc. raised its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 71.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,640 shares of the company's stock after purchasing an additional 42,464 shares during the quarter. TCW Group Inc.'s holdings in Elevance Health were worth $52,853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the third quarter worth about $26,000. PSI Advisors LLC purchased a new position in shares of Elevance Health during the 3rd quarter valued at approximately $27,000. Strategic Financial Concepts LLC acquired a new position in shares of Elevance Health in the 2nd quarter valued at $30,000. Eastern Bank acquired a new position in shares of Elevance Health in the 3rd quarter valued at $31,000. Finally, Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after buying an additional 26 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

Elevance Health Price Performance

Shares of ELV stock traded down $4.25 during trading hours on Wednesday, reaching $385.61. The company had a trading volume of 2,163,941 shares, compared to its average volume of 1,216,360. Elevance Health, Inc. has a 12-month low of $379.29 and a 12-month high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $89.43 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.14 and a beta of 0.83. The stock has a fifty day moving average of $429.31 and a 200-day moving average of $497.00.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.99 earnings per share. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.69%. Elevance Health's dividend payout ratio (DPR) is 23.77%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELV. TD Cowen decreased their price objective 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. Morgan Stanley reduced their price target on Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a "buy" rating on the stock in a research report on Friday, October 18th. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Finally, Truist Financial reiterated a "buy" rating and set a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.