Elevance Health, Inc. (NYSE:ELV) Shares Sold by Firetrail Investments PTY Ltd.

Firetrail Investments PTY Ltd. lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 7.6% in the third quarter, Holdings Channel reports. The firm owned 27,635 shares of the company’s stock after selling 2,265 shares during the quarter. Elevance Health accounts for about 4.1% of Firetrail Investments PTY Ltd.’s investment portfolio, making the stock its 8th largest position. Firetrail Investments PTY Ltd.’s holdings in Elevance Health were worth $14,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Trust increased its stake in shares of Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares during the last quarter. Private Ocean LLC lifted its holdings in shares of Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after acquiring an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. grew its holdings in shares of Elevance Health by 1.9% during the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after purchasing an additional 23 shares during the last quarter. Cypress Wealth Services LLC lifted its stake in Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after purchasing an additional 23 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in Elevance Health by 4.2% in the second quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after buying an additional 24 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’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 sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

ELV stock opened at $410.89 on Thursday. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26. The stock has a market capitalization of $95.29 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. The company’s 50-day moving average is $483.60 and its 200-day moving average is $516.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the business posted $8.99 EPS. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Elevance Health, Inc. will post 32.96 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. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is presently 23.77%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Mizuho cut their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Stephens reissued an “underperform” rating on shares of Elevance Health in a report 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 note on Monday, October 21st. Finally, Morgan Stanley decreased their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.