Donaldson Capital Management LLC Sells 4,210 Shares of Elevance Health, Inc. (NYSE:ELV)

Donaldson Capital Management LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 65.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,260 shares of the company’s stock after selling 4,210 shares during the period. Donaldson Capital Management LLC’s holdings in Elevance Health were worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bedel Financial Consulting Inc. raised its stake in shares of Elevance Health by 1.6% in the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after acquiring an additional 20 shares during the last quarter. American Trust grew 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 worth $402,000 after buying an additional 20 shares during the period. Private Ocean LLC grew 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 worth $189,000 after buying an additional 22 shares during the period. Hurlow Wealth Management Group Inc. grew 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 worth $666,000 after buying an additional 23 shares during the period. Finally, Cypress Wealth Services LLC grew 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 worth $353,000 after buying an additional 23 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $417.86 on Tuesday. The company has a market capitalization of $96.91 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company’s 50-day moving average is $499.42 and its 200 day moving average is $520.76.

Elevance Health (NYSE:ELV) last posted 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 return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $8.99 earnings per share. On average, equities research analysts forecast that Elevance Health, Inc. will post 32.93 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is 23.77%.

Analysts Set New Price Targets

Several brokerages have recently commented on ELV. Wells Fargo & Company lowered their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday. Truist Financial reiterated a “buy” rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Barclays lowered their price target 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. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Finally, Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $544.53.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s 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 in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

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.