Mcdonald Capital Investors Inc. CA Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Mcdonald Capital Investors Inc. CA decreased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,879 shares of the company's stock after selling 2,779 shares during the quarter. Elevance Health accounts for approximately 4.1% of Mcdonald Capital Investors Inc. CA's investment portfolio, making the stock its 11th biggest holding. Mcdonald Capital Investors Inc. CA owned 0.06% of Elevance Health worth $66,497,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bedel Financial Consulting Inc. lifted its position in shares of Elevance Health by 1.6% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company's stock worth $647,000 after buying an additional 20 shares in the last quarter. American Trust lifted its position in shares of Elevance Health by 2.6% during the 1st 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 lifted its position in shares of Elevance Health by 6.7% during the 2nd quarter. Private Ocean LLC now owns 348 shares of the company's stock worth $189,000 after buying an additional 22 shares in the last quarter. Hurlow Wealth Management Group Inc. lifted its position 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 worth $666,000 after buying an additional 23 shares in the last quarter. Finally, Cypress Wealth Services LLC lifted 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 worth $353,000 after buying an additional 23 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Activity

In other 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 transaction of $3,205,182.38. Following the completion of 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

Elevance Health Price Performance

Shares of NYSE ELV traded up $0.41 during mid-day trading on Thursday, reaching $429.34. 2,263,004 shares of the company were exchanged, compared to its average volume of 1,145,993. 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 capitalization of $99.57 billion, a PE ratio of 15.65, a PEG ratio of 1.23 and a beta of 0.85. The company's 50 day moving average price is $494.37 and its 200 day moving average price is $519.32. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly 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). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $8.99 earnings per share. Sell-side analysts forecast that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's dividend payout ratio is presently 23.77%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a report on Friday, October 18th. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a research note on Monday. Argus lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, October 18th. Mizuho reduced their price objective on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Bank of America reiterated a "neutral" rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research note 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus 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.