Elevance Health, Inc. (NYSE:ELV) Holdings Trimmed by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 28.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,700 shares of the company’s stock after selling 36,028 shares during the period. Glenmede Trust Co. NA’s holdings in Elevance Health were worth $47,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sanders Capital LLC increased its stake in Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after buying an additional 44,805 shares during the period. Ameriprise Financial Inc. grew its position in Elevance Health by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after acquiring an additional 190,118 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the last quarter. Legal & General Group Plc raised 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 purchasing an additional 64,376 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Elevance Health by 8.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,091,969 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 159,742 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Finally, Truist Financial restated 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $401.80 on Wednesday. The business’s 50 day moving average is $454.96 and its 200-day moving average is $506.95. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $93.19 billion, a PE ratio of 14.65, a PEG ratio of 1.21 and a beta of 0.85. Elevance Health, Inc. has a 1-year low of $391.02 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly 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). The business 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 3.68% and a return on equity of 19.56%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $8.99 EPS. Sell-side analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 yield of 1.62%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is 23.77%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.29% 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.