Signature Estate & Investment Advisors LLC Has $3.23 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Signature Estate & Investment Advisors LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 23.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,215 shares of the company's stock after selling 1,880 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Elevance Health were worth $3,232,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC increased its stake in Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock valued at $341,956,000 after purchasing an additional 656,344 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after buying an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company's stock worth $1,117,698,000 after acquiring an additional 523,910 shares during the period. M&G Plc bought a new position in Elevance Health in the first quarter worth about $203,389,000. Finally, Maj Invest Holding A S acquired a new stake in shares of Elevance Health during the 2nd quarter worth approximately $173,753,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Mizuho cut their price objective on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley lowered their target price 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. Bank of America reiterated a "neutral" rating and set a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Finally, Argus lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $539.20.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 transaction, the executive vice president now 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 filing with the SEC, which is available through the SEC website. 0.35% of the stock is owned by insiders.

Elevance Health Stock Performance

ELV stock traded down $6.27 during midday trading on Friday, hitting $400.78. The stock had a trading volume of 2,616,529 shares, compared to its average volume of 1,164,884. The stock has a 50-day simple moving average of $478.13 and a 200 day simple moving average of $514.55. The firm has a market capitalization of $92.95 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.22 and a beta of 0.85. 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.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.99 EPS. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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

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.