Elevance Health, Inc. (NYSE:ELV) Holdings Trimmed by Whittier Trust Co. of Nevada Inc.

by · The Markets Daily

Whittier Trust Co. of Nevada Inc. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,360 shares of the company’s stock after selling 2,218 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Elevance Health were worth $18,387,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Ameriprise Financial Inc. grew its holdings in shares of Elevance Health by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after acquiring an additional 190,118 shares in the last quarter. Capital International Investors grew its holdings in shares of Elevance Health by 3.7% during the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after acquiring an additional 123,802 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Elevance Health by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock valued at $1,217,607,000 after acquiring an additional 64,376 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after acquiring an additional 523,910 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after acquiring an additional 275,708 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

ELV stock traded down $9.56 during trading hours on Monday, reaching $421.21. The stock had a trading volume of 1,368,527 shares, compared to its average volume of 1,079,990. The stock has a market capitalization of $97.90 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a 50-day simple moving average of $526.74 and a 200 day simple moving average of $527.81. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV – Get Free Report) last issued 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). The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $8.99 earnings per share. Analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal 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 given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is presently 24.64%.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday. Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday. TD Cowen dropped their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday. Bank of America reissued a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, Cantor Fitzgerald lowered their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $565.27.

Read Our Latest Analysis on Elevance Health

Elevance Health Company Profile

(Free Report)

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.

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