Greenleaf Trust Sells 88 Shares of Elevance Health, Inc. (NYSE:ELV)

Greenleaf Trust trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,053 shares of the company’s stock after selling 88 shares during the quarter. Greenleaf Trust’s holdings in Elevance Health were worth $3,668,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ELV. New Mexico Educational Retirement Board lifted its holdings in Elevance Health by 14.6% in the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after acquiring an additional 1,800 shares during the period. Blair William & Co. IL lifted its holdings in Elevance Health by 119.7% in the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after acquiring an additional 6,610 shares during the period. AMI Investment Management Inc. bought a new position in Elevance Health in the third quarter valued at about $1,294,000. Artemis Investment Management LLP lifted its holdings in Elevance Health by 16.1% in the first quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock valued at $43,422,000 after acquiring an additional 11,627 shares during the period. Finally, BDF Gestion bought a new position in Elevance Health in the second quarter valued at about $5,837,000. 89.24% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health 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 transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ramiro G. Peru sold 753 shares of the business’s 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 transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 0.7 %

ELV traded down $2.98 during trading on Wednesday, hitting $416.86. 120,067 shares of the stock were exchanged, compared to its average volume of 1,085,054. The firm has a 50 day simple moving average of $522.44 and a 200 day simple moving average of $526.65. The firm has a market cap of $96.89 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year 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.

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

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. Elevance Health’s dividend payout ratio is presently 24.64%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELV. Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a report on Friday. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday. UBS Group cut their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Truist Financial restated a “buy” rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Raymond James set a $485.00 price target on Elevance Health in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $551.07.

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.