Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc raised its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,305 shares of the company's stock after buying an additional 1,435 shares during the quarter. Impax Asset Management Group plc's holdings in Elevance Health were worth $13,159,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ELV. American Trust lifted its holdings in shares of Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company's stock valued at $402,000 after buying an additional 20 shares during the period. Private Ocean LLC boosted its position in Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company's stock worth $189,000 after purchasing an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. grew its stake in shares of Elevance Health by 1.9% during the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company's stock valued at $666,000 after purchasing an additional 23 shares during the period. Cypress Wealth Services LLC increased its position in shares of Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock valued at $353,000 after purchasing an additional 23 shares during the last quarter. Finally, CVA Family Office LLC lifted its stake in shares of Elevance Health by 4.2% in the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company's stock worth $326,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 1.6 %

NYSE:ELV traded down $6.35 on Friday, hitting $400.69. The stock had a trading volume of 2,616,673 shares, compared to its average volume of 1,164,884. The company has a fifty day moving average price of $475.29 and a two-hundred day moving average price of $513.63. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year 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 stock has a market cap of $92.93 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.22 and a beta of 0.85.

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 analysts' consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the business posted $8.99 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given 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 is Thursday, December 5th. Elevance Health's dividend payout ratio is currently 23.77%.

Insider Activity at Elevance Health

In related 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 value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company's stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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