BNP Paribas Has $6.32 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

BNP Paribas lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 12,150 shares of the company’s stock after selling 194 shares during the quarter. BNP Paribas’ holdings in Elevance Health were worth $6,318,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new position in Elevance Health during the second quarter worth $27,000. PSI Advisors LLC bought a new position in shares of Elevance Health in the 3rd quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health in the 2nd quarter valued at about $28,000. Strategic Financial Concepts LLC bought a new stake in shares of Elevance Health during the 2nd quarter valued at about $30,000. Finally, Eastern Bank acquired a new stake in Elevance Health during the third quarter worth approximately $31,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV opened at $401.80 on Wednesday. Elevance Health, Inc. has a 1 year low of $391.02 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a fifty day moving average price of $454.96 and a 200-day moving average price of $506.95. The firm has a market cap of $93.19 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.21 and a beta of 0.85.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the company earned $8.99 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s 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 sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELV. Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. UBS Group cut their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley dropped their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company reduced their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $539.20.

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.