MetLife Investment Management LLC Sells 1,719 Shares of Elevance Health, Inc. (NYSE:ELV)

MetLife Investment Management LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 62,005 shares of the company’s stock after selling 1,719 shares during the period. MetLife Investment Management LLC’s holdings in Elevance Health were worth $32,243,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ELV has been the subject of a number of analyst reports. Truist Financial reissued a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Barclays lowered their price objective on 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, TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. One investment 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 stock. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Up 0.3 %

NYSE ELV opened at $403.00 on Wednesday. The stock has a 50 day moving average price of $454.96 and a 200-day moving average price of $506.95. Elevance Health, Inc. has a one year low of $391.02 and a one year high of $567.26. 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 company has a market capitalization of $93.46 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.21 and a beta of 0.85.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (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 business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the previous year, the company earned $8.99 EPS. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

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 given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.62%. Elevance Health’s dividend payout ratio is currently 23.77%.

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.