Carret Asset Management LLC Reduces Position in Elevance Health, Inc. (NYSE:ELV)

Carret Asset Management LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 8.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385 shares of the company’s stock after selling 35 shares during the period. Carret Asset Management LLC’s holdings in Elevance Health were worth $200,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ELV. Wealthcare Advisory Partners LLC raised its stake in shares of Elevance Health by 21.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,459 shares of the company’s stock worth $757,000 after buying an additional 254 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Elevance Health by 8.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,344 shares of the company’s stock worth $5,882,000 after acquiring an additional 877 shares during the period. Vicus Capital purchased a new position in Elevance Health during the first quarter valued at approximately $204,000. SteelPeak Wealth LLC bought a new position in shares of Elevance Health in the first quarter worth approximately $204,000. Finally, LVW Advisors LLC increased its stake in shares of Elevance Health by 34.0% in the first quarter. LVW Advisors LLC now owns 714 shares of the company’s stock worth $370,000 after purchasing an additional 181 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ELV shares. UBS Group lowered their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Barclays dropped their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. TD Cowen dropped their price target on 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, Bank of America reiterated a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $551.07.

Elevance Health Trading Up 1.5 %

ELV opened at $425.27 on Monday. The stock has a 50-day moving average of $515.15 and a 200 day moving average of $524.74. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The firm has a market cap of $98.84 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the business earned $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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.