Donaldson Capital Management LLC Reduces Stock Position in Elevance Health, Inc. (NYSE:ELV)

Donaldson Capital Management LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 65.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,260 shares of the company’s stock after selling 4,210 shares during the quarter. Donaldson Capital Management LLC’s holdings in Elevance Health were worth $1,175,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Bedel Financial Consulting Inc. boosted its holdings in shares of Elevance Health by 1.6% in the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after acquiring an additional 20 shares in the last quarter. American Trust boosted its holdings in Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after buying an additional 20 shares in the last quarter. Private Ocean LLC boosted its holdings in Elevance Health by 6.7% during the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after buying an additional 22 shares in the last quarter. Hurlow Wealth Management Group Inc. boosted its holdings in Elevance Health by 1.9% during the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock worth $666,000 after buying an additional 23 shares in the last quarter. Finally, Cypress Wealth Services LLC boosted its holdings in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on 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 owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by insiders.

Elevance Health Stock Up 0.9 %

ELV stock opened at $417.86 on Tuesday. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $96.91 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.21 and a beta of 0.85. The company has a 50 day moving average of $499.42 and a two-hundred day moving average of $520.76.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company 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 earned $8.99 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. Elevance Health’s dividend payout ratio is currently 23.77%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank of Canada reduced their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $544.53.

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.