Elevance Health, Inc. (NYSE:ELV) Shares Sold by Firetrail Investments PTY Ltd.

Firetrail Investments PTY Ltd. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 7.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,635 shares of the company’s stock after selling 2,265 shares during the quarter. Elevance Health makes up approximately 4.1% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 8th biggest holding. Firetrail Investments PTY Ltd.’s holdings in Elevance Health were worth $14,356,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kovack Advisors Inc. boosted its holdings in Elevance Health by 9.7% in the third quarter. Kovack Advisors Inc. now owns 486 shares of the company’s stock valued at $253,000 after acquiring an additional 43 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Elevance Health by 1.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,698 shares of the company’s stock worth $4,003,000 after buying an additional 118 shares during the period. Pinnacle Financial Partners Inc lifted its holdings in Elevance Health by 1.6% in the third quarter. Pinnacle Financial Partners Inc now owns 2,945 shares of the company’s stock valued at $1,531,000 after buying an additional 47 shares during the period. MQS Management LLC boosted its stake in Elevance Health by 176.3% in the third quarter. MQS Management LLC now owns 1,108 shares of the company’s stock valued at $576,000 after acquiring an additional 707 shares during the last quarter. Finally, Carrera Capital Advisors grew its holdings in Elevance Health by 13.9% during the 3rd quarter. Carrera Capital Advisors now owns 4,316 shares of the company’s stock worth $2,244,000 after acquiring an additional 528 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Shares of ELV stock opened at $410.89 on Thursday. 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 $397.98 and a 12 month high of $567.26. The company’s fifty day simple moving average is $483.60 and its 200-day simple moving average is $516.04. The firm has a market cap of $95.29 billion, a PE ratio of 14.98, a P/E/G ratio of 1.23 and a beta of 0.85.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.99 EPS. Equities research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Insider Buying and Selling at Elevance Health

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 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 $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. UBS Group reduced their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Bank of America restated a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Finally, Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. One equities 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 company. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $539.20.

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.