KBC Group NV decreased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 275,555 shares of the company's stock after selling 22,057 shares during the period. KBC Group NV owned 0.12% of Elevance Health worth $143,289,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in Elevance Health in the second quarter valued at approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Elevance Health during the second quarter worth $28,000. PSI Advisors LLC acquired a new position in shares of Elevance Health in the 3rd quarter valued at $27,000. Eastern Bank bought a new stake in shares of Elevance Health in the 3rd quarter valued at $31,000. Finally, Crewe Advisors LLC acquired a new stake in Elevance Health during the 1st quarter worth $40,000. Institutional investors own 89.24% of the company's stock.
Elevance Health Stock Performance
Shares of Elevance Health stock traded down $4.61 during trading on Thursday, hitting $406.28. 891,326 shares of the stock were exchanged, compared to its average volume of 1,154,273. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $94.23 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. The company has a fifty day moving average price of $480.88 and a 200-day moving average price of $515.30.
Elevance Health (NYSE:ELV - Get Free Report) last issued 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 business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the prior year, the firm posted $8.99 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts predict that Elevance Health, Inc. will post 32.96 EPS 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 $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's payout ratio is presently 23.77%.
Insider Activity
In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company'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 owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Truist Financial restated a "buy" rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Barclays reduced their price target 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. Stephens restated an "underperform" rating on shares of Elevance Health in a report on Friday, October 18th. Finally, Bank of America reiterated a "neutral" rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $539.20.
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About Elevance Health
(
Free Report)
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.
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