Elevance Health, Inc. (NYSE:ELV) Shares Sold by Greenleaf Trust

Greenleaf Trust reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,053 shares of the company’s stock after selling 88 shares during the period. Greenleaf Trust’s holdings in Elevance Health were worth $3,668,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI grew its holdings in Elevance Health by 35.2% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,437 shares of the company’s stock worth $748,000 after acquiring an additional 374 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Elevance Health in the 3rd quarter valued at about $2,008,000. GAM Holding AG lifted its position in Elevance Health by 0.8% in the 3rd quarter. GAM Holding AG now owns 15,741 shares of the company’s stock valued at $8,185,000 after purchasing an additional 121 shares during the last quarter. Waldron Private Wealth LLC lifted its position in Elevance Health by 7.2% in the 3rd quarter. Waldron Private Wealth LLC now owns 1,143 shares of the company’s stock valued at $594,000 after purchasing an additional 77 shares during the last quarter. Finally, Eastern Bank bought a new stake in Elevance Health in the 3rd quarter valued at about $31,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on ELV. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Bank of America reiterated a “neutral” rating and issued a $530.00 price objective (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada dropped their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Finally, Morgan Stanley dropped their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $551.07.

Insider Activity

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

Elevance Health Stock Performance

Shares of ELV traded down $2.98 during midday trading on Wednesday, reaching $416.86. 120,067 shares of the stock were exchanged, compared to its average volume of 1,085,054. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a market cap of $96.89 billion, a P/E ratio of 15.87, a PEG ratio of 1.08 and a beta of 0.82. The stock’s 50 day simple moving average is $522.44 and its 200 day simple moving average is $526.65.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm 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 20.64% and a net margin of 3.89%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $8.99 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is currently 24.64%.

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.