Intellectus Partners LLC Sells 160 Shares of Elevance Health, Inc. (NYSE:ELV)

Intellectus Partners LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,020 shares of the company’s stock after selling 160 shares during the period. Intellectus Partners LLC’s holdings in Elevance Health were worth $2,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Iridian Asset Management LLC CT grew its stake 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 buying an additional 3,786 shares during the last quarter. International Assets Investment Management LLC grew its position 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 worth $276,972,000 after acquiring an additional 532,016 shares during the last quarter. abrdn plc increased its stake in Elevance Health by 32.2% in the 3rd quarter. abrdn plc now owns 360,134 shares of the company’s stock worth $186,540,000 after purchasing an additional 87,717 shares during the period. Blair William & Co. IL lifted its position in Elevance Health by 119.7% in the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after purchasing an additional 6,610 shares during the last quarter. Finally, AMI Investment Management Inc. purchased a new stake in shares of Elevance Health during the third quarter valued at approximately $1,294,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ELV. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. TD Cowen lowered their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Barclays reduced their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Wells Fargo & Company cut their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $539.20.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.9 %

NYSE:ELV opened at $407.04 on Friday. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The company has a market capitalization of $94.40 billion, a PE ratio of 14.84, a P/E/G ratio of 1.22 and a beta of 0.85. The firm’s 50-day moving average price is $480.88 and its 200-day moving average price is $515.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

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

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, December 5th. 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.