LPL Financial LLC Boosts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

LPL Financial LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,074 shares of the company’s stock after acquiring an additional 13,619 shares during the quarter. LPL Financial LLC owned 0.08% of Elevance Health worth $97,798,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Iridian Asset Management LLC CT raised its holdings 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 during the last quarter. International Assets Investment Management LLC raised its stake in Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Elevance Health by 5.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock valued at $109,127,000 after buying an additional 9,916 shares during the period. Seizert Capital Partners LLC boosted its stake in shares of Elevance Health by 26.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock worth $54,199,000 after buying an additional 21,708 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its position in Elevance Health by 185.4% during the third quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock valued at $26,600,000 after acquiring an additional 33,231 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 0.3 %

NYSE ELV opened at $402.55 on Friday. Elevance Health, Inc. has a 12 month low of $391.02 and a 12 month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market cap of $93.36 billion, a PE ratio of 14.68, a P/E/G ratio of 1.20 and a beta of 0.85. The stock’s 50 day moving average is $460.70 and its 200 day moving average is $509.01.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate 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 was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.99 EPS. Research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value 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 $3,639,915.22. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ELV. Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald cut their target price 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. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, Truist Financial restated a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

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.