KCM Investment Advisors LLC Sells 27 Shares of Elevance Health, Inc. (NYSE:ELV)

KCM Investment Advisors LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,244 shares of the company’s stock after selling 27 shares during the period. KCM Investment Advisors LLC’s holdings in Elevance Health were worth $6,887,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Iridian Asset Management LLC CT lifted its position in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after purchasing an additional 3,786 shares in the last quarter. International Assets Investment Management LLC lifted its position 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 valued at $276,972,000 after purchasing an additional 532,016 shares in the last quarter. abrdn plc lifted 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 valued at $186,540,000 after purchasing an additional 87,717 shares in the last quarter. Blair William & Co. IL increased its holdings in Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after buying an additional 6,610 shares during the last quarter. Finally, AMI Investment Management Inc. purchased a new stake in Elevance Health during the third quarter worth about $1,294,000. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Barclays decreased their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Bank of America restated a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Finally, 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 report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Price Performance

NYSE:ELV traded down $4.61 during mid-day trading on Friday, hitting $402.43. 311,517 shares of the stock traded hands, compared to its average volume of 1,154,319. The business’s 50-day moving average price is $478.13 and its 200 day moving average price is $514.55. The company has a market cap of $93.33 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.22 and a beta of 0.85. 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.

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

Elevance Health Announces Dividend

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

Elevance Health 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.