Elevance Health, Inc. (NYSE:ELV) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 812 shares of the company’s stock after selling 68 shares during the quarter. First Affirmative Financial Network’s holdings in Elevance Health were worth $422,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Ameriprise Financial Inc. increased its stake in shares of Elevance Health by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after acquiring an additional 190,118 shares during the last quarter. Capital International Investors increased its position in Elevance Health by 3.7% during the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after purchasing an additional 123,802 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Elevance Health by 2.9% in 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 during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after buying an additional 523,910 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after buying an additional 275,708 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ELV shares. Morgan Stanley initiated coverage on Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price on the stock. Truist Financial boosted their target price on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Barclays raised their price target on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America reiterated a “neutral” rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, TD Cowen cut their target price 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 equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Elevance Health presently has an average rating of “Buy” and an average target price of $605.07.

Elevance Health Stock Up 2.0 %

ELV stock opened at $501.88 on Friday. The company has a market capitalization of $116.65 billion, a P/E ratio of 18.97, a PEG ratio of 1.08 and a beta of 0.82. The firm has a 50 day simple moving average of $531.94 and a 200-day simple moving average of $529.09. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a twelve month low of $435.99 and a twelve month high of $567.26.

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

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Insider Transactions at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now directly 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 SEC, which is available through this hyperlink. In related news, CEO Gail Boudreaux sold 34,000 shares of the 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 sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s 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 completion of the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is currently owned by corporate insiders.

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.