Strategy Asset Managers LLC Sells 2,020 Shares of Elevance Health, Inc. (NYSE:ELV)

Strategy Asset Managers LLC lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 22.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,943 shares of the company's stock after selling 2,020 shares during the period. Strategy Asset Managers LLC's holdings in Elevance Health were worth $3,610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its holdings in Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock valued at $341,956,000 after acquiring an additional 656,344 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company's stock worth $1,117,698,000 after buying an additional 523,910 shares in the last quarter. Maj Invest Holding A S acquired a new stake in shares of Elevance Health during the 2nd quarter worth approximately $173,753,000. Finally, First Eagle Investment Management LLC raised its stake in shares of Elevance Health by 15.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company's stock valued at $1,115,301,000 after acquiring an additional 275,708 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale 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 Trading Up 0.9 %

NYSE ELV traded up $3.74 during trading hours on Wednesday, hitting $397.94. The company's stock had a trading volume of 880,907 shares, compared to its average volume of 1,168,673. The stock has a fifty day moving average of $469.43 and a 200 day moving average of $511.63. 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, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26. The firm has a market capitalization of $92.29 billion, a P/E ratio of 14.37, a PEG ratio of 1.19 and a beta of 0.85.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $8.99 EPS. Equities research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's payout ratio is 23.77%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Barclays decreased their price target on Elevance Health from $622.00 to $501.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Truist Financial reaffirmed a "buy" rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a report on Friday, October 18th. Finally, Argus lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $539.20.

Elevance Health Company 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.