Elevance Health, Inc. (NYSE:ELV) Stock Position Lessened by Unigestion Holding SA

Unigestion Holding SA decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 33.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,950 shares of the company's stock after selling 20,756 shares during the quarter. Unigestion Holding SA's holdings in Elevance Health were worth $21,814,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Iridian Asset Management LLC CT increased its holdings in Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company's stock worth $20,360,000 after buying an additional 3,786 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock valued at $27,858,000 after purchasing an additional 50,603 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Elevance Health by 5.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company's stock worth $109,127,000 after purchasing an additional 9,916 shares during the period. Finally, Seizert Capital Partners LLC raised its stake in Elevance Health by 26.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company's stock valued at $54,199,000 after buying an additional 21,708 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Transactions 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 dated 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 transaction, 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 document filed with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ELV. Wells Fargo & Company reduced their price objective on Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Barclays cut their target price 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. Morgan Stanley decreased 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. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Finally, Royal Bank of Canada cut 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average target price of $539.20.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $4.25 during trading on Wednesday, reaching $385.61. The company had a trading volume of 2,163,941 shares, compared to its average volume of 1,216,360. Elevance Health, Inc. has a fifty-two week low of $379.29 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. The stock's fifty day moving average price is $429.31 and its 200 day moving average price is $497.00. The firm has a market capitalization of $89.43 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83.

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 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 firm had revenue of $44.72 billion during the quarter, compared to analysts' expectations of $43.47 billion. During the same period in the previous year, the business earned $8.99 earnings per share. The business's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Thursday, December 5th. Elevance Health's dividend payout ratio is currently 23.77%.

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.