Chevy Chase Trust Holdings LLC Sells 2,559 Shares of Elevance Health, Inc. (NYSE:ELV)

Chevy Chase Trust Holdings LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 124,986 shares of the company’s stock after selling 2,559 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Elevance Health worth $64,993,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ELV. Pathway Financial Advisers LLC lifted its holdings in Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after purchasing an additional 656,344 shares in the last quarter. International Assets Investment Management LLC raised 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 buying an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after buying an additional 523,910 shares in the last quarter. Maj Invest Holding A S bought a new position in shares of Elevance Health during the second quarter worth $173,753,000. Finally, First Eagle Investment Management LLC grew its stake in Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after acquiring an additional 275,708 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value 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 approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of several research analyst reports. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. Mizuho dropped their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald reduced their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Truist Financial reiterated a “buy” rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Finally, UBS Group reduced their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Trading Up 0.9 %

ELV opened at $410.50 on Monday. 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 50 day moving average price is $446.87 and its 200-day moving average price is $504.13. Elevance Health, Inc. has a one year low of $391.02 and a one year high of $567.26. The stock has a market cap of $95.20 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.21 and a beta of 0.85.

Elevance Health (NYSE:ELV) last announced 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 business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $8.99 EPS. On average, equities analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 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.