Community Bank & Trust Waco Texas Sells 55 Shares of Elevance Health, Inc. (NYSE:ELV)

Community Bank & Trust Waco Texas lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,588 shares of the company’s stock after selling 55 shares during the period. Elevance Health accounts for approximately 1.6% of Community Bank & Trust Waco Texas’ portfolio, making the stock its 21st biggest holding. Community Bank & Trust Waco Texas’ holdings in Elevance Health were worth $7,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Carrera Capital Advisors boosted its stake in Elevance Health by 13.9% during the 3rd quarter. Carrera Capital Advisors now owns 4,316 shares of the company’s stock valued at $2,244,000 after purchasing an additional 528 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Elevance Health by 4.6% during the 3rd quarter. Victory Capital Management Inc. now owns 203,042 shares of the company’s stock valued at $105,582,000 after acquiring an additional 8,851 shares during the period. Aptus Capital Advisors LLC boosted its holdings in shares of Elevance Health by 1,133.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 31,293 shares of the company’s stock valued at $16,272,000 after acquiring an additional 28,756 shares during the last quarter. Cumberland Partners Ltd grew its stake in shares of Elevance Health by 0.8% in the third quarter. Cumberland Partners Ltd now owns 19,396 shares of the company’s stock worth $10,086,000 after acquiring an additional 155 shares during the period. Finally, Savvy Advisors Inc. purchased a new position in shares of Elevance Health during the third quarter valued at approximately $385,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Down 2.9 %

NYSE ELV opened at $412.91 on Wednesday. The stock has a market cap of $95.76 billion, a PE ratio of 15.05, a P/E/G ratio of 1.26 and a beta of 0.85. The company has a current ratio of 1.50, a quick 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 stock’s 50 day moving average is $486.59 and its 200 day moving average is $516.91.

Elevance Health (NYSE:ELV) last posted its 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 company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations 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 was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $8.99 earnings per share. Research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.58%. Elevance Health’s payout ratio is 23.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Morgan Stanley cut their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada cut their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Wells Fargo & Company lowered their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Bank of America restated a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, TD Cowen lowered their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus 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.