Foundry Partners LLC Has $24.06 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Foundry Partners LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 0.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,265 shares of the company’s stock after selling 230 shares during the quarter. Elevance Health makes up about 1.2% of Foundry Partners LLC’s holdings, making the stock its 19th largest position. Foundry Partners LLC’s holdings in Elevance Health were worth $24,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Bank & Trust Co purchased a new stake in shares of Elevance Health in the second quarter valued at about $27,000. PSI Advisors LLC bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Strategic Financial Concepts LLC purchased a new stake in shares of Elevance Health during the second quarter valued at approximately $30,000. Finally, Eastern Bank bought a new stake in Elevance Health during the third quarter worth $31,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred 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 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 represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $397.48 on Thursday. The stock has a market cap of $92.18 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock’s fifty day moving average is $466.51 and its 200 day moving average is $510.83. Elevance Health, Inc. has a one year low of $391.02 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the prior year, the firm earned $8.99 EPS. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.64%. Elevance Health’s payout ratio is 23.77%.

Analyst Ratings Changes

A number of research firms have recently commented on ELV. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada lowered their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Finally, UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

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.