Great Diamond Partners LLC Sells 496 Shares of Elevance Health, Inc. (NYSE:ELV)

Great Diamond Partners LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 40.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 741 shares of the company’s stock after selling 496 shares during the quarter. Great Diamond Partners LLC’s holdings in Elevance Health were worth $385,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Avitas Wealth Management LLC lifted its stake in shares of Elevance Health by 1.5% in the third quarter. Avitas Wealth Management LLC now owns 4,674 shares of the company’s stock worth $2,430,000 after acquiring an additional 67 shares during the period. Fidelis Capital Partners LLC lifted its position in shares of Elevance Health by 14.0% in the 3rd quarter. Fidelis Capital Partners LLC now owns 4,051 shares of the company’s stock worth $2,107,000 after purchasing an additional 499 shares during the period. Diversify Advisory Services LLC lifted its position in shares of Elevance Health by 6.2% in the 3rd quarter. Diversify Advisory Services LLC now owns 701 shares of the company’s stock worth $365,000 after purchasing an additional 41 shares during the period. Integrated Advisors Network LLC boosted its stake in shares of Elevance Health by 3.9% in the 3rd quarter. Integrated Advisors Network LLC now owns 5,942 shares of the company’s stock valued at $3,090,000 after purchasing an additional 222 shares during the last quarter. Finally, abrdn plc increased its position in shares of Elevance Health by 32.2% during the third quarter. abrdn plc now owns 360,134 shares of the company’s stock worth $186,540,000 after buying an additional 87,717 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of several recent analyst reports. Truist Financial restated a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $551.07.

Elevance Health Price Performance

ELV opened at $410.57 on Wednesday. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The firm has a 50-day moving average of $509.97 and a 200 day moving average of $523.53. 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 firm has a market cap of $95.42 billion, a P/E ratio of 15.52, a PEG ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the previous 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, research analysts expect 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 $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insider Activity at Elevance Health

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

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.