Elevance Health, Inc. (NYSE:ELV) Shares Sold by KBC Group NV

KBC Group NV lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 7.4% in the third quarter, HoldingsChannel.com reports. The fund owned 275,555 shares of the company’s stock after selling 22,057 shares during the quarter. KBC Group NV’s holdings in Elevance Health were worth $143,289,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ELV. Plato Investment Management Ltd boosted its position in Elevance Health by 6.5% during the third quarter. Plato Investment Management Ltd now owns 6,390 shares of the company’s stock worth $3,319,000 after purchasing an additional 392 shares in the last quarter. Kovack Advisors Inc. grew its position in shares of Elevance Health by 9.7% in the third quarter. Kovack Advisors Inc. now owns 486 shares of the company’s stock valued at $253,000 after purchasing an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Elevance Health by 1.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,698 shares of the company’s stock worth $4,003,000 after acquiring an additional 118 shares during the last quarter. Pinnacle Financial Partners Inc raised its stake in Elevance Health by 1.6% during the third quarter. Pinnacle Financial Partners Inc now owns 2,945 shares of the company’s stock worth $1,531,000 after purchasing an additional 47 shares during the period. Finally, MQS Management LLC lifted its holdings in Elevance Health by 176.3% in the third quarter. MQS Management LLC now owns 1,108 shares of the company’s stock valued at $576,000 after acquiring an additional 707 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ELV shares. Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada lowered their price target 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. Bank of America restated a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. TD Cowen decreased their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Cantor Fitzgerald reduced their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Insiders Place Their Bets

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 shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $410.89 on Thursday. The company’s fifty day moving average is $483.60 and its two-hundred day moving average is $516.04. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The company has a market cap of $95.29 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

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

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.59%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

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.