Erste Asset Management GmbH Makes New $978,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Erste Asset Management GmbH purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,868 shares of the company's stock, valued at approximately $978,000.

Several other large investors have also added to or reduced their stakes in the company. Sanders Capital LLC raised its holdings in Elevance Health by 1.0% in the 3rd 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 during the period. Ameriprise Financial Inc. raised 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 worth $2,054,641,000 after purchasing an additional 190,118 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Elevance Health by 16.2% in 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 period. Legal & General Group Plc raised its holdings in Elevance Health by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company's stock worth $1,217,607,000 after purchasing an additional 64,376 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Elevance Health by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,152,613 shares of the company's stock worth $1,119,359,000 after purchasing an additional 31,740 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Stock Down 1.9 %

Elevance Health stock traded down $7.88 during midday trading on Wednesday, reaching $400.19. The company's stock had a trading volume of 1,903,523 shares, compared to its average volume of 1,194,388. Elevance Health, Inc. has a fifty-two week low of $391.02 and a fifty-two week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $92.81 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.22 and a beta of 0.83. The business has a 50-day simple moving average of $439.60 and a 200-day simple moving average of $501.50.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $44.72 billion for the quarter, compared to analysts' expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $8.99 EPS. On average, research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's dividend payout ratio is currently 23.77%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on 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 in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research analyst reports. Argus cut Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, October 18th. Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. TD Cowen reduced their target price on Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a report on Monday, October 21st. Finally, Royal Bank of Canada reduced 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.