Elevance Health, Inc. (NYSE:ELV) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its position in Elevance Health, Inc. (NYSE:ELV) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,474 shares of the company’s stock after selling 311 shares during the period. Apollon Wealth Management LLC’s holdings in Elevance Health were worth $1,807,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Iridian Asset Management LLC CT raised its position in shares of Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after buying an additional 3,786 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares during the last quarter. abrdn plc raised its position in shares of Elevance Health by 32.2% in the third quarter. abrdn plc now owns 360,134 shares of the company’s stock valued at $186,540,000 after buying an additional 87,717 shares during the last quarter. Blair William & Co. IL raised its position in shares of 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 buying an additional 6,610 shares during the last quarter. Finally, AMI Investment Management Inc. purchased a new stake in Elevance Health in the third quarter valued at approximately $1,294,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ELV. UBS Group lowered their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Morgan Stanley decreased their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Cantor Fitzgerald decreased their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Royal Bank of Canada decreased their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Insiders Place Their Bets

In other Elevance Health 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 transaction 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 approximately $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Elevance Health Trading Down 0.5 %

ELV opened at $410.89 on Thursday. The stock has a market capitalization of $95.29 billion, a PE ratio of 14.98, a P/E/G ratio of 1.23 and a beta of 0.85. The firm’s fifty day moving average price is $483.60 and its 200 day moving average price is $516.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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). The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue 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, research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. 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 1.59%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

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.