Greystone Financial Group LLC Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

Greystone Financial Group LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 16.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,374 shares of the company’s stock after acquiring an additional 2,674 shares during the period. Elevance Health accounts for about 1.8% of Greystone Financial Group LLC’s portfolio, making the stock its 21st biggest holding. Greystone Financial Group LLC’s holdings in Elevance Health were worth $10,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. International Assets Investment Management LLC grew its stake in 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 acquiring an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after purchasing an additional 523,910 shares during the last quarter. M&G Plc purchased a new position in shares of Elevance Health during the first quarter valued at about $203,389,000. Maj Invest Holding A S bought a new stake in shares of Elevance Health in the second quarter worth about $173,753,000. Finally, First Eagle Investment Management LLC lifted its position in shares of Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after buying an additional 275,708 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. 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. Bank of America reaffirmed a “neutral” rating and set a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Barclays dropped their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday. Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. Finally, Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $551.07.

Insider Activity

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 sale, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $415.54 on Thursday. The company has a market capitalization of $96.58 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.08 and a beta of 0.82. The company’s 50-day simple moving average is $519.97 and its two-hundred day simple moving average is $525.88. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $8.99 EPS. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The firm 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. This represents a $6.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

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.