State of Alaska Department of Revenue Sells 4,760 Shares of Elevance Health, Inc. (NYSE:ELV)

State of Alaska Department of Revenue trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 8.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 50,735 shares of the company’s stock after selling 4,760 shares during the period. State of Alaska Department of Revenue’s holdings in Elevance Health were worth $26,380,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Bank & Trust Co bought a new stake in Elevance Health in the second quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 2nd quarter worth about $28,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the 3rd quarter worth about $27,000. Palisade Asset Management LLC bought a new position in Elevance Health during the 1st quarter valued at about $28,000. Finally, Eastern Bank acquired a new position in Elevance Health in the third quarter valued at about $31,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $425.27 on Friday. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $98.84 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.08 and a beta of 0.82. The firm has a fifty day moving average of $515.15 and a two-hundred day moving average of $524.62.

Elevance Health (NYSE:ELV) last released its earnings results 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). The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $8.99 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Ratings Changes

Several analysts have recently weighed in on ELV shares. Raymond James set a $485.00 price objective on shares of Elevance Health in a report on Friday, October 18th. Barclays cut their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Bank of America reissued a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. TD Cowen cut their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Cantor Fitzgerald decreased their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $551.07.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated 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 owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Company 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.