Stanley Laman Group Ltd. Lowers Holdings in Elevance Health, Inc. (NYSE:ELV)

Stanley Laman Group Ltd. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,560 shares of the company’s stock after selling 266 shares during the period. Stanley Laman Group Ltd.’s holdings in Elevance Health were worth $3,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank & Trust Co purchased a new position in Elevance Health during the 2nd quarter valued at about $27,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health in the second quarter valued at about $28,000. Strategic Financial Concepts LLC acquired a new stake in Elevance Health in the second quarter worth about $30,000. Finally, Eastern Bank purchased a new stake in shares of Elevance Health during the third quarter worth about $31,000. 89.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $419.84 on Wednesday. The stock has a market cap of $97.58 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a fifty day moving average price of $522.44 and a 200 day moving average price of $526.65. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the company posted $8.99 EPS. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.55%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ELV. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday. Royal Bank of Canada dropped their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a research note on Friday. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Barclays cut their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $557.20.

Elevance Health 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.