Kirtland Hills Capital Management LLC Sells 57 Shares of Elevance Health, Inc. (NYSE:ELV)

Kirtland Hills Capital Management LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,870 shares of the company’s stock after selling 57 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Elevance Health were worth $972,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ELV. Bank & Trust Co acquired a new position in Elevance Health in the second quarter worth about $27,000. PSI Advisors LLC acquired a new position in Elevance Health in the third quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health in the second quarter worth about $28,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health in the second quarter worth about $30,000. Finally, Eastern Bank acquired a new position in Elevance Health in the third quarter worth about $31,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $394.20 on Wednesday. The company has a market cap of $91.42 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $469.43 and a 200 day simple moving average of $511.63. Elevance Health, Inc. has a one year low of $391.83 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last issued 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 company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $8.99 EPS. Research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share 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. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Cantor Fitzgerald dropped their price objective 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. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Barclays lowered their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. One research 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 stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% 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.