Curi RMB Capital LLC Sells 270 Shares of Elevance Health, Inc. (NYSE:ELV)

Curi RMB Capital LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,296 shares of the company’s stock after selling 270 shares during the period. Curi RMB Capital LLC’s holdings in Elevance Health were worth $1,194,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Catalytic Wealth RIA LLC bought a new position in Elevance Health in the first quarter valued at about $291,000. Blair William & Co. IL boosted its stake in shares of Elevance Health by 119.7% during 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 in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Elevance Health during the first quarter valued at about $698,000. Cynosure Group LLC acquired a new stake in shares of Elevance Health during the first quarter valued at about $322,000. Finally, Covestor Ltd boosted its stake in shares of Elevance Health by 14.1% during the first quarter. Covestor Ltd now owns 493 shares of the company’s stock valued at $256,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen cut their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Cantor Fitzgerald cut their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Raymond James set a $485.00 price objective on Elevance Health in a research note on Friday, October 18th. Barclays cut their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Trading Down 1.5 %

NYSE ELV opened at $400.78 on Friday. The company has a market cap of $92.95 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.22 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 has a 50 day moving average price of $478.13 and a 200-day moving average price of $514.55. 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 released 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 firm had revenue of $44.72 billion for 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%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.99 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal 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 issued a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.63%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

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.