Elevance Health, Inc. (NYSE:ELV) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,856 shares of the company’s stock after selling 116 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Elevance Health were worth $52,445,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank & Trust Co bought a new stake in shares of Elevance Health during the 2nd quarter worth $27,000. Palisade Asset Management LLC acquired a new stake in Elevance Health during the 1st quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health during the second quarter valued at about $28,000. Strategic Financial Concepts LLC acquired a new position in shares of Elevance Health in the second quarter worth about $30,000. Finally, Beaird Harris Wealth Management LLC purchased a new position in shares of Elevance Health in the fourth quarter worth approximately $32,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. 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 available at this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,058 shares of company stock worth $17,588,116. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 2.0 %

Shares of NYSE ELV traded up $9.70 during mid-day trading on Friday, reaching $501.88. 1,026,722 shares of the company traded hands, compared to its average volume of 1,020,379. The company’s fifty day moving average is $531.94 and its two-hundred day moving average is $529.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a fifty-two week low of $435.99 and a fifty-two week high of $567.26. The stock has a market cap of $116.38 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.04 EPS. On average, analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. Elevance Health’s dividend payout ratio (DPR) is presently 22.86%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays raised their price objective on shares of Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a research note on Thursday. Stephens reissued an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research report on Thursday, September 5th. Bank of America reaffirmed a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Royal Bank of Canada increased their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, TD Cowen dropped their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $605.07.

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.