Elevance Health, Inc. (NYSE:ELV) Holdings Lowered by Unison Asset Management LLC

Unison Asset Management LLC trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,031 shares of the company’s stock after selling 38 shares during the period. Elevance Health comprises about 5.9% of Unison Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. Unison Asset Management LLC’s holdings in Elevance Health were worth $12,496,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ELV. Bank & Trust Co purchased a new position in shares of Elevance Health in the second quarter valued at about $27,000. PSI Advisors LLC bought a new stake 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 second quarter worth about $28,000. Strategic Financial Concepts LLC bought a new stake in shares of Elevance Health in the second quarter worth about $30,000. Finally, Eastern Bank bought a new stake in Elevance Health during the third quarter worth approximately $31,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Elevance Health Trading Up 0.8 %

Shares of Elevance Health stock opened at $405.70 on Monday. The firm has a market capitalization of $94.09 billion, a PE ratio of 14.68, a P/E/G ratio of 1.20 and a beta of 0.85. Elevance Health, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26. The firm’s 50-day moving average price is $460.70 and its 200 day moving average price is $508.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last released its earnings results 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 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period last year, the business earned $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict 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. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ELV. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. TD Cowen reduced their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Truist Financial reissued a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Finally, Wells Fargo & Company cut their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.