1,243 Elevance Health, Inc. $ELV Shares Sold by TrinityBridge Ltd

TrinityBridge Ltd reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 30.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,843 shares of the company’s stock after selling 1,243 shares during the quarter. TrinityBridge Ltd’s holdings in Elevance Health were worth $1,106,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Elevance Health during the second quarter worth about $2,086,000. Stoneridge Investment Partners LLC purchased a new stake in Elevance Health in the 2nd quarter valued at approximately $970,000. State Street Corp boosted its holdings in Elevance Health by 1.3% in the 2nd quarter. State Street Corp now owns 10,426,610 shares of the company’s stock valued at $4,032,283,000 after purchasing an additional 137,914 shares in the last quarter. State of Wyoming acquired a new position in Elevance Health during the 2nd quarter worth approximately $1,765,000. Finally, Farther Finance Advisors LLC increased its position in Elevance Health by 27.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 11,826 shares of the company’s stock worth $4,598,000 after purchasing an additional 2,518 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on ELV. Mizuho set a $490.00 price target on Elevance Health in a report on Friday, October 23rd. Leerink Partners lifted their price target on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Morgan Stanley upped their price objective on Elevance Health from $404.00 to $449.00 and gave the stock an “equal weight” rating in a report on Thursday, October 22nd. TD Cowen increased their price objective on Elevance Health from $465.00 to $495.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Finally, UBS Group raised their target price on Elevance Health from $460.00 to $523.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $456.48.

Elevance Health Trading Down 0.1%

Shares of Elevance Health stock opened at $413.11 on Wednesday. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $450.69. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The stock has a market cap of $89.26 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63. The company has a 50-day moving average of $411.08 and a two-hundred day moving average of $372.73.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. The company had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm earned $6.03 EPS. On average, research analysts anticipate that Elevance Health, Inc. will post 29.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 4th. Elevance Health’s dividend payout ratio (DPR) is presently 29.34%.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the sale, the chief financial officer directly owned 19,919 shares in the company, valued at approximately $8,766,949.47. The trade was a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.