D.A. Davidson & CO. Sells 122 Shares of Elevance Health, Inc. (NYSE:ELV)

D.A. Davidson & CO. decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,798 shares of the company’s stock after selling 122 shares during the quarter. D.A. Davidson & CO.’s holdings in Elevance Health were worth $3,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELV. Pathway Financial Advisers LLC raised its stake in Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after buying an additional 656,344 shares during the period. International Assets Investment Management LLC increased its stake in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares during the period. Maj Invest Holding A S bought a new position in shares of Elevance Health during the second quarter worth approximately $173,753,000. Finally, First Eagle Investment Management LLC increased its stake in shares of Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after purchasing an additional 275,708 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $402.75 on Friday. The stock has a market capitalization of $93.41 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.21 and a beta of 0.85. Elevance Health, Inc. has a 52-week low of $391.02 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock’s 50 day moving average price is $449.52 and its two-hundred day moving average price is $505.51.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the company posted $8.99 EPS. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ELV shares. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Truist Financial reissued a “buy” rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. UBS Group reduced their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Wells Fargo & Company reduced their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Barclays reduced their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

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.