Elevance Health, Inc. (NYSE:ELV) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 95.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,161 shares of the company's stock after selling 86,628 shares during the quarter. Los Angeles Capital Management LLC's holdings in Elevance Health were worth $2,164,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in shares of Elevance Health in the 2nd quarter valued at $27,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the third quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 2nd quarter valued at about $28,000. Strategic Financial Concepts LLC bought a new position in shares of Elevance Health during the 2nd quarter worth approximately $30,000. Finally, Eastern Bank purchased a new stake in Elevance Health during the third quarter valued at approximately $31,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company's stock.

Elevance Health Price Performance

ELV traded down $3.85 during midday trading on Thursday, hitting $407.04. 1,783,745 shares of the company traded hands, compared to its average volume of 1,158,314. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week 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 business has a 50 day simple moving average of $480.88 and a two-hundred day simple moving average of $515.30. The company has a market capitalization of $94.40 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.23 and a beta of 0.85.

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

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.60%. Elevance Health's payout ratio is 23.77%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada lowered their price target on Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a report on Friday, October 18th. Truist Financial reaffirmed a "buy" rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Barclays decreased 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. Finally, Argus downgraded Elevance Health from a "buy" rating to a "hold" rating in a research note 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 given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.