Keybank National Association OH Reduces Stock Holdings in Elevance Health, Inc. $ELV

Keybank National Association OH decreased its position in Elevance Health, Inc. (NYSE:ELV) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,065 shares of the company’s stock after selling 47 shares during the period. Keybank National Association OH’s holdings in Elevance Health were worth $3,915,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Verdence Capital Advisors LLC lifted its stake in Elevance Health by 3.9% in the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after purchasing an additional 790 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Elevance Health by 11.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after acquiring an additional 817 shares during the period. World Investment Advisors raised its holdings in Elevance Health by 17.0% during the 2nd quarter. World Investment Advisors now owns 27,434 shares of the company’s stock valued at $10,671,000 after acquiring an additional 3,988 shares during the period. Focus Partners Wealth raised its holdings in Elevance Health by 4.6% during the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after acquiring an additional 982 shares during the period. Finally, Asio Capital LLC raised its holdings in Elevance Health by 7.1% during the 2nd quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after acquiring an additional 1,015 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays lowered their target price on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Bank of America boosted their target price on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Finally, UBS Group lowered their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Twelve investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $398.44.

Elevance Health Trading Down 1.5%

Elevance Health stock opened at $317.05 on Friday. The stock has a market cap of $70.46 billion, a P/E ratio of 12.96, a PEG ratio of 1.23 and a beta of 0.59. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm’s fifty day moving average price is $329.07 and its 200-day moving average price is $349.16. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.37 earnings per share. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio is currently 27.96%.

Insider Buying and Selling

In other news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.