Elevance Health, Inc. (NYSE:ELV) is Sanders Capital LLC’s 9th Largest Position

Sanders Capital LLC grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,609,258 shares of the company’s stock after acquiring an additional 44,805 shares during the period. Elevance Health accounts for approximately 3.5% of Sanders Capital LLC’s holdings, making the stock its 9th largest holding. Sanders Capital LLC’s holdings in Elevance Health were worth $2,396,814,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank & Trust Co bought a new stake in Elevance Health in the second quarter worth $27,000. PSI Advisors LLC purchased a new position in shares of Elevance Health in the third quarter worth about $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 2nd quarter valued at about $28,000. Strategic Financial Concepts LLC purchased a new stake in Elevance Health during the 2nd quarter valued at about $30,000. Finally, Eastern Bank bought a new position in Elevance Health during the 3rd quarter worth approximately $31,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’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 transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Cantor Fitzgerald decreased their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Barclays decreased their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Down 0.8 %

Shares of NYSE:ELV opened at $404.54 on Tuesday. The firm has a market capitalization of $93.82 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a 50 day moving average price of $457.79 and a 200-day moving average price of $507.92. Elevance Health, Inc. has a 52-week low of $391.02 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last issued 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 during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. 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 earnings per share. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm 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 dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.61%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

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.