Elevance Health, Inc. (NYSE:ELV) Shares Sold by Cetera Trust Company N.A

Cetera Trust Company N.A decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 2.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,686 shares of the company’s stock after selling 120 shares during the period. Elevance Health comprises 1.5% of Cetera Trust Company N.A’s holdings, making the stock its 19th largest position. Cetera Trust Company N.A’s holdings in Elevance Health were worth $2,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank & Trust Co bought a new stake in Elevance Health in the second quarter valued at $27,000. Palisade Asset Management LLC acquired a new stake in shares of Elevance Health in the 1st quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the 2nd quarter valued at about $28,000. Strategic Financial Concepts LLC bought a new position in Elevance Health in the 2nd quarter worth about $30,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Elevance Health in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $3.11 on Tuesday, reaching $419.15. 633,452 shares of the company traded hands, compared to its average volume of 1,081,760. The stock has a market capitalization of $97.42 billion, a PE ratio of 15.96, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50 day moving average is $524.68 and its 200-day moving average is $527.27. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (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 company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the firm earned $8.99 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company 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 dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is 24.64%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ELV shares. Barclays boosted their price objective on Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Cantor Fitzgerald decreased their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday. Royal Bank of Canada cut their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company reiterated a “buy” rating on shares of Elevance Health in a research report on Friday. Finally, UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday. One 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 stock. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $565.27.

Insiders Place Their Bets

In other 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 transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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.