BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,785 Shares of Elevance Health, Inc. (NYSE:ELV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in Elevance Health, Inc. (NYSE:ELV) by 13.0% in the 3rd quarter, Holdings Channel reports. The firm owned 38,782 shares of the company’s stock after selling 5,785 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Elevance Health were worth $20,167,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ELV. Private Ocean LLC grew its holdings in shares of Elevance Health by 6.7% during the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after buying an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. lifted its position in Elevance Health by 1.9% during the second quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after purchasing an additional 23 shares during the period. Cypress Wealth Services LLC lifted its position in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after purchasing an additional 23 shares during the period. CVA Family Office LLC lifted its position in Elevance Health by 4.2% during the second quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after purchasing an additional 24 shares during the period. Finally, FSM Wealth Advisors LLC lifted its position in Elevance Health by 4.4% during the second quarter. FSM Wealth Advisors LLC now owns 568 shares of the company’s stock valued at $308,000 after purchasing an additional 24 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’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 in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Barclays decreased their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Truist Financial restated a “buy” rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald decreased their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, UBS Group decreased their target price 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Trading Up 1.0 %

ELV stock opened at $406.96 on Friday. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26. The business’s 50-day moving average is $446.87 and its 200 day moving average is $504.38. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market cap of $94.38 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.20 and a beta of 0.85.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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 analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $8.99 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed 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 is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.60%. Elevance Health’s payout ratio is currently 23.77%.

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.