Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Paloma Partners Management Co

Paloma Partners Management Co raised its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 223.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,264 shares of the company's stock after purchasing an additional 1,564 shares during the period. Paloma Partners Management Co's holdings in Elevance Health were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sanders Capital LLC lifted its holdings in Elevance Health by 1.0% during the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock worth $2,396,814,000 after buying an additional 44,805 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Elevance Health by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company's stock valued at $2,054,641,000 after purchasing an additional 190,118 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock valued at $1,246,574,000 after purchasing an additional 334,552 shares during the last quarter. Legal & General Group Plc raised its holdings in Elevance Health by 2.9% during the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company's stock worth $1,217,607,000 after purchasing an additional 64,376 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Elevance Health by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,152,613 shares of the company's stock worth $1,119,359,000 after buying an additional 31,740 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ELV. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a research report on Friday, October 18th. Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. Barclays decreased their target price on Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. Morgan Stanley cut their price target on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald decreased their price objective on Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $539.20.

Elevance Health Stock Performance

NYSE ELV traded down $2.20 on Tuesday, hitting $408.19. 1,692,114 shares of the company's stock were exchanged, compared to its average volume of 1,798,944. The firm has a market cap of $94.67 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.22 and a beta of 0.83. The firm's 50-day moving average price is $442.01 and its two-hundred day moving average price is $502.21. Elevance Health, Inc. has a fifty-two week low of $391.02 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $43.47 billion. During the same period in the prior year, the company earned $8.99 EPS. The company's revenue was up 5.3% on a year-over-year basis. On average, research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

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 issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's dividend payout ratio is currently 23.77%.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction 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 transaction, the executive vice president now directly owns 8,423 shares of the company's stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

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.