Elevance Health, Inc. (NYSE:ELV) Shares Sold by West Family Investments Inc.

West Family Investments Inc. decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 92.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 824 shares of the company's stock after selling 9,964 shares during the quarter. West Family Investments Inc.'s holdings in Elevance Health were worth $428,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. American Trust lifted its holdings in shares of Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company's stock worth $402,000 after buying an additional 20 shares in the last quarter. Private Ocean LLC grew its position in shares of Elevance Health by 6.7% during the second quarter. Private Ocean LLC now owns 348 shares of the company's stock valued at $189,000 after purchasing an additional 22 shares in the last quarter. Hurlow Wealth Management Group Inc. increased its holdings in shares of Elevance Health by 1.9% in the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company's stock worth $666,000 after purchasing an additional 23 shares during the last quarter. Cypress Wealth Services LLC lifted its position in shares of Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock worth $353,000 after buying an additional 23 shares in the last quarter. Finally, CVA Family Office LLC boosted its stake in Elevance Health by 4.2% during the second quarter. CVA Family Office LLC now owns 602 shares of the company's stock valued at $326,000 after buying an additional 24 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,423 shares of the company's stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

NYSE:ELV traded up $3.28 during mid-day trading on Wednesday, hitting $397.48. The company's stock had a trading volume of 2,389,028 shares, compared to its average volume of 1,175,379. The business's fifty day moving average is $466.51 and its two-hundred day moving average is $510.83. The stock has a market cap of $92.18 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 1 year low of $391.02 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its 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 return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the business earned $8.99 earnings per share. The firm's revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's payout ratio is currently 23.77%.

Analyst Ratings Changes

ELV has been the topic of several research reports. Argus cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, October 18th. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Royal Bank of Canada lowered their price target on shares of Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a report on Friday, October 18th. Barclays dropped their price target on Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. Finally, Morgan Stanley reduced their target price on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.