Healthcare of Ontario Pension Plan Trust Fund Sells 39,200 Shares of Elevance Health, Inc. (NYSE:ELV)

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 78.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,800 shares of the company’s stock after selling 39,200 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Elevance Health were worth $5,616,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC boosted 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 valued at $341,956,000 after purchasing an additional 656,344 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Elevance Health by 85,533.1% in 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 period. Massachusetts Financial Services Co. MA grew its position in Elevance Health by 34.0% during 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 Elevance Health during the second quarter valued at about $173,753,000. Finally, First Eagle Investment Management LLC raised its holdings in Elevance Health by 15.5% in the 2nd 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. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ELV. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Cantor Fitzgerald reduced their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, Wells Fargo & Company lowered their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Insider Activity

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 transaction of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Elevance Health Stock Up 1.1 %

NYSE ELV opened at $407.33 on Friday. The stock’s 50 day simple moving average is $446.87 and its 200 day simple moving average is $504.59. Elevance Health, Inc. has a one year low of $391.02 and a one year high of $567.26. The firm has a market cap of $94.47 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85. 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 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 business had revenue of $44.72 billion for 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%. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.99 EPS. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.60%. Elevance Health’s payout ratio 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.