National Bank of Canada FI Sells 1,374 Shares of Elevance Health, Inc. (NYSE:ELV)

National Bank of Canada FI cut its stake in Elevance Health, Inc. (NYSE:ELV) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,447 shares of the company’s stock after selling 1,374 shares during the quarter. National Bank of Canada FI’s holdings in Elevance Health were worth $13,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ELV. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth about $27,000. Strategic Financial Concepts LLC purchased a new position in shares of Elevance Health during the second quarter valued at approximately $30,000. Eastern Bank bought a new position in shares of Elevance Health during the third quarter valued at approximately $31,000. Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health in the third quarter worth approximately $44,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Elevance Health by 46.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 95 shares of the company’s stock worth $49,000 after acquiring an additional 30 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays reduced their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho dropped their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Trading Down 1.4 %

Elevance Health stock opened at $389.98 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $90.44 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. The stock has a 50-day moving average of $431.73 and a two-hundred day moving average of $497.93. Elevance Health, Inc. has a one year low of $379.29 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 EPS 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 company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the business earned $8.99 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.67%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction 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 sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Elevance Health 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.