National Bank of Canada FI Has $13.75 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

National Bank of Canada FI reduced its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,447 shares of the company's stock after selling 1,374 shares during the quarter. National Bank of Canada FI's holdings in Elevance Health were worth $13,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Elevance Health by 26.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,329 shares of the company's stock valued at $7,764,000 after acquiring an additional 2,985 shares in the last quarter. ORG Partners LLC grew its stake in shares of Elevance Health by 643.8% in the second quarter. ORG Partners LLC now owns 119 shares of the company's stock valued at $64,000 after buying an additional 103 shares in the last quarter. Archford Capital Strategies LLC grew its position in Elevance Health by 2.3% in the second quarter. Archford Capital Strategies LLC now owns 3,355 shares of the company's stock valued at $1,818,000 after acquiring an additional 75 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Elevance Health by 18.6% during the second quarter. Clear Harbor Asset Management LLC now owns 1,233 shares of the company's stock valued at $668,000 after purchasing an additional 193 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Elevance Health by 5.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 565 shares of the company's stock valued at $313,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Elevance Health Price Performance

Elevance Health stock traded down $4.25 during trading hours on Wednesday, hitting $385.61. 2,163,941 shares of the company traded hands, compared to its average volume of 1,216,360. The firm's 50-day simple moving average is $429.31 and its two-hundred day simple moving average is $497.00. The firm has a market cap of $89.43 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.14 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $379.29 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.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). The firm 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 firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $8.99 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's payout ratio is 23.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cantor Fitzgerald cut their price objective on shares of Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a report on Friday, October 18th. TD Cowen decreased their price objective on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a report on Monday, October 21st. Barclays cut their target price on shares of Elevance Health from $622.00 to $501.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Morgan Stanley reduced their target price on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Finally, Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $539.20.

Elevance Health 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.