Elevance Health, Inc. $ELV Shares Sold by M&G PLC

M&G PLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 278,024 shares of the company’s stock after selling 17,094 shares during the period. M&G PLC’s holdings in Elevance Health were worth $108,151,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Activest Wealth Management increased its stake in shares of Elevance Health by 146.2% in the third quarter. Activest Wealth Management now owns 64 shares of the company’s stock worth $25,000 after purchasing an additional 38 shares in the last quarter. WealthCollab LLC boosted its holdings in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the period. Kilter Group LLC purchased a new stake in Elevance Health in the 2nd quarter worth $28,000. Main Street Group LTD bought a new stake in Elevance Health during the first quarter valued at about $39,000. Finally, Elevation Wealth Partners LLC lifted its position in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In related news, EVP Ratnakar Lavu sold 1,300 shares of Elevance Health stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $440.00, for a total value of $572,000.00. Following the completion of the transaction, the executive vice president owned 14,849 shares in the company, valued at approximately $6,533,560. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the sale, the chief financial officer directly owned 19,919 shares in the company, valued at $8,766,949.47. The trade was a 34.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on ELV shares. Barclays increased their target price on Elevance Health from $469.00 to $472.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. UBS Group increased their price objective on shares of Elevance Health from $460.00 to $523.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. TD Cowen boosted their target price on shares of Elevance Health from $465.00 to $495.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Truist Financial raised their target price on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Leerink Partners lifted their price target on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $456.48.

Elevance Health Stock Performance

NYSE:ELV opened at $417.73 on Tuesday. The company has a market cap of $90.26 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.07 and a beta of 0.63. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $450.69. The stock’s 50 day simple moving average is $413.37 and its two-hundred day simple moving average is $373.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.47 and a quick ratio of 1.47.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, topping the consensus estimate of $4.71 by $2.28. The company had revenue of $50.44 billion for the quarter, compared to analysts’ expectations of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. Elevance Health’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.03 earnings per share. As a group, equities analysts anticipate that Elevance Health, Inc. will post 29.15 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. Elevance Health’s payout ratio is 29.34%.

Elevance Health Company Profile

Elevance Health, Inc is a U.S. health benefits and services company. Formerly known as Anthem, Inc, it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans.

The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.

Elevance Health operates primarily in the United States, with health plans serving members across multiple states and access to broader provider networks through its Blue Cross Blue Shield affiliations.