Baillie Gifford & Co. Lowers Stock Position in Elevance Health, Inc. (NYSE:ELV)

Baillie Gifford & Co. cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.3% during the 3rd quarter, Holdings Channel reports. The firm owned 2,769,568 shares of the company’s stock after selling 94,714 shares during the quarter. Elevance Health makes up approximately 1.1% of Baillie Gifford & Co.’s holdings, making the stock its 22nd largest holding. Baillie Gifford & Co.’s holdings in Elevance Health were worth $1,440,175,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Catalytic Wealth RIA LLC bought a new stake in Elevance Health during the first quarter worth $291,000. Headlands Technologies LLC increased its holdings in Elevance Health by 1,044.4% in the 1st quarter. Headlands Technologies LLC now owns 824 shares of the company’s stock worth $427,000 after acquiring an additional 752 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Elevance Health by 1.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,663 shares of the company’s stock valued at $2,936,000 after acquiring an additional 101 shares during the period. Cozad Asset Management Inc. lifted its holdings in Elevance Health by 12.1% during the first quarter. Cozad Asset Management Inc. now owns 844 shares of the company’s stock valued at $438,000 after purchasing an additional 91 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. increased its stake in shares of Elevance Health by 1.6% in the first quarter. Pettyjohn Wood & White Inc. now owns 4,620 shares of the company’s stock worth $2,396,000 after purchasing an additional 71 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Up 0.7 %

ELV opened at $425.39 on Tuesday. The company has a market cap of $98.66 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.26 and a beta of 0.85. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The business’s 50-day moving average price is $486.59 and its 200-day moving average price is $516.91. 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) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the prior year, the business posted $8.99 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.53%. Elevance Health’s payout ratio is presently 23.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ELV. Truist Financial reiterated a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Mizuho dropped their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, UBS Group decreased their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock 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 given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

About Elevance Health

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.