Heritage Wealth Management Inc. Sells 169 Shares of Elevance Health, Inc. (NYSE:ELV)

Heritage Wealth Management Inc. cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,967 shares of the company’s stock after selling 169 shares during the period. Heritage Wealth Management Inc.’s holdings in Elevance Health were worth $1,023,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Iridian Asset Management LLC CT increased its position in Elevance Health by 10.7% during the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after purchasing an additional 3,786 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after buying an additional 532,016 shares in the last quarter. abrdn plc grew its position in Elevance Health by 32.2% during the 3rd quarter. abrdn plc now owns 360,134 shares of the company’s stock worth $186,540,000 after acquiring an additional 87,717 shares during the last quarter. Blair William & Co. IL raised its position in Elevance Health by 119.7% in the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after purchasing an additional 6,610 shares during the last quarter. Finally, AMI Investment Management Inc. bought a new stake in shares of Elevance Health during the third quarter worth about $1,294,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Elevance Health Stock Down 0.3 %

NYSE:ELV traded down $1.48 on Friday, hitting $427.86. The stock had a trading volume of 86,551 shares, compared to its average volume of 1,141,115. The company has a market cap of $99.23 billion, a PE ratio of 15.65, a P/E/G ratio of 1.24 and a beta of 0.85. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The business’s fifty day moving average is $494.37 and its 200 day moving average is $519.32. 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 (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $8.99 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.52%. Elevance Health’s dividend payout ratio is presently 23.77%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ELV shares. UBS Group cut their target price 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, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Mizuho reduced their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday. TD Cowen lowered their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.