5,081 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,081 shares of the company’s stock, valued at approximately $2,642,000.

A number of other large investors also recently added to or reduced their stakes in ELV. Iridian Asset Management LLC CT raised its position in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after buying an additional 3,786 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake 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 in the last quarter. Seizert Capital Partners LLC lifted its stake in Elevance Health by 26.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock worth $54,199,000 after purchasing an additional 21,708 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in shares of Elevance Health by 185.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock valued at $26,600,000 after purchasing an additional 33,231 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Elevance Health stock opened at $402.55 on Monday. Elevance Health, Inc. has a 1-year low of $391.02 and a 1-year high of $567.26. The company’s 50-day moving average is $460.70 and its 200 day moving average is $508.84. The firm has a market capitalization of $93.36 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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 return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the previous year, the company posted $8.99 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced 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 1.62%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. UBS Group lowered their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Mizuho dropped their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred 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 owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

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.