Thrivent Financial for Lutherans Decreases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Thrivent Financial for Lutherans trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 306,829 shares of the company's stock after selling 6,912 shares during the quarter. Thrivent Financial for Lutherans owned about 0.13% of Elevance Health worth $159,551,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. American Trust boosted 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 valued at $402,000 after purchasing an additional 20 shares in the last quarter. Private Ocean LLC boosted 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 valued at $189,000 after purchasing an additional 22 shares in the last quarter. Hurlow Wealth Management Group Inc. boosted 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 valued at $666,000 after purchasing an additional 23 shares in the last quarter. Cypress Wealth Services LLC boosted 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 valued at $353,000 after purchasing an additional 23 shares in the last quarter. Finally, CVA Family Office LLC boosted its position in shares of Elevance Health by 4.2% during the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company's stock valued at $326,000 after purchasing an additional 24 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 1.6 %

Shares of ELV stock traded down $6.35 during trading hours on Friday, reaching $400.69. The company had a trading volume of 2,616,673 shares, compared to its average volume of 2,071,922. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $92.93 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.85. The business has a fifty day simple moving average of $475.29 and a 200-day simple moving average of $513.44. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to analysts' expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $8.99 earnings per share. On average, research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares of the company's stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ELV shares. Cantor Fitzgerald cut their target price on Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. TD Cowen cut their price target on Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Barclays cut their price target on Elevance Health from $622.00 to $501.00 and set an "overweight" rating on the stock in a 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 report on Wednesday, October 23rd. Finally, Wells Fargo & Company cut their price target on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. One investment 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 stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $539.20.

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.