Elevance Health, Inc. (NYSE:ELV) Holdings Raised by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 84.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,819 shares of the company’s stock after acquiring an additional 1,287 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Elevance Health were worth $1,466,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ELV. Pathway Financial Advisers LLC boosted its stake in Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after acquiring an additional 656,344 shares during the period. International Assets Investment Management LLC boosted its position in Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after purchasing an additional 523,910 shares during the period. M&G Plc bought a new position in Elevance Health during the 1st quarter worth $203,389,000. Finally, Maj Invest Holding A S acquired a new stake in Elevance Health in the second quarter worth $173,753,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

NYSE ELV traded down $0.05 on Monday, reaching $425.22. The company’s stock had a trading volume of 64,532 shares, compared to its average volume of 1,099,318. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The firm’s 50 day moving average is $515.15 and its two-hundred day moving average is $524.74. The stock has a market cap of $98.83 billion, a PE ratio of 16.07, a PEG ratio of 1.08 and a beta of 0.82.

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

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. 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 24.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Truist Financial reissued a “buy” rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a research note on Friday, October 18th. Royal Bank of Canada reduced their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, UBS Group decreased their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. One equities research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $551.07.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated 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 directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

About Elevance Health

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.