M&G Plc Buys 67,774 Shares of Elevance Health, Inc. (NYSE:ELV)

M&G PLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 473,088 shares of the company's stock after purchasing an additional 67,774 shares during the period. Elevance Health accounts for approximately 1.3% of M&G PLC's holdings, making the stock its 14th biggest position. M&G PLC owned approximately 0.20% of Elevance Health worth $246,006,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Bank & Trust Co acquired a new stake in shares of Elevance Health in the second quarter valued at $27,000. PSI Advisors LLC acquired a new stake in Elevance Health in the 3rd quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Strategic Financial Concepts LLC acquired a new stake in Elevance Health during the second quarter valued at approximately $30,000. Finally, Eastern Bank acquired a new position in Elevance Health in the third quarter worth approximately $31,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

ELV has been the subject of several research reports. 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 objective on Elevance Health in a report on Friday, October 18th. Bank of America reaffirmed a "neutral" rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, 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 research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $539.20.

Elevance Health Stock Up 0.1 %

NYSE ELV traded up $0.41 during trading on Thursday, reaching $429.34. The company's stock had a trading volume of 2,229,229 shares, compared to its average volume of 1,145,836. 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 $99.57 billion, a PE ratio of 15.65, a PEG ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The business has a 50-day moving average price of $494.37 and a 200-day moving average price of $519.32.

Elevance Health (NYSE:ELV - Get Free Report) last released 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the firm posted $8.99 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts forecast that Elevance Health, Inc. will post 32.93 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. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, December 5th. Elevance Health's payout ratio is 23.77%.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company's stock.

Elevance Health Company Profile

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.