Nisa Investment Advisors LLC Lowers Position in Elevance Health, Inc. (NYSE:ELV)

Nisa Investment Advisors LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,965 shares of the company’s stock after selling 5,085 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Elevance Health were worth $42,622,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ELV. Bank & Trust Co acquired a new position in shares of Elevance Health in the second quarter worth about $27,000. PSI Advisors LLC purchased a new position in Elevance Health during the third quarter worth approximately $27,000. Palisade Asset Management LLC purchased a new position in Elevance Health during the first quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health during the 2nd quarter worth approximately $28,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Elevance Health during the 2nd quarter valued at approximately $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on ELV. TD Cowen cut their price target 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. UBS Group reduced their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Truist Financial reiterated a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $551.07.

Insiders Place Their Bets

In other 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 transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 shares were 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 owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Elevance Health Stock Down 1.9 %

NYSE ELV opened at $417.35 on Tuesday. The business’s fifty day simple moving average is $512.62 and its 200-day simple moving average is $524.14. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market cap of $97.00 billion, a PE ratio of 15.77, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26.

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

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given 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 1.56%. Elevance Health’s payout ratio is 24.64%.

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.