Elevance Health, Inc. (NYSE:ELV) Shares Bought by Cynosure Group LLC

Cynosure Group LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 6.8% in the 3rd quarter, Holdings Channel reports. The firm owned 767 shares of the company’s stock after buying an additional 49 shares during the period. Cynosure Group LLC’s holdings in Elevance Health were worth $399,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT boosted its stake in shares of Elevance Health by 10.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after acquiring an additional 3,786 shares in the last quarter. International Assets Investment Management LLC increased its stake in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in 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 worth $109,127,000 after buying an additional 9,916 shares during the period. Seizert Capital Partners LLC lifted its stake in Elevance Health by 26.3% during the third quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock valued at $54,199,000 after buying an additional 21,708 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in shares of Elevance Health by 185.4% in the third quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock worth $26,600,000 after buying an additional 33,231 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 0.2 %

Shares of ELV stock opened at $402.80 on Thursday. The business’s 50 day moving average is $452.22 and its two-hundred day moving average is $506.22. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12 month low of $391.02 and a 12 month high of $567.26. The company has a market cap of $93.42 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 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 19.56% and a net margin of 3.68%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $8.99 EPS. Equities analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent analyst reports. UBS Group decreased their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Barclays decreased their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Cantor Fitzgerald dropped their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s 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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Elevance Health 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.