Arete Wealth Advisors LLC Sells 557 Shares of Elevance Health, Inc. (NYSE:ELV)

Arete Wealth Advisors LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 42.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 757 shares of the company’s stock after selling 557 shares during the period. Arete Wealth Advisors LLC’s holdings in Elevance Health were worth $393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT boosted its holdings in Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after purchasing an additional 3,786 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Elevance Health by 85,533.1% during the third 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 in the last quarter. Benjamin Edwards Inc. boosted its holdings in Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after purchasing an additional 50,603 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Elevance Health by 5.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock valued at $109,127,000 after purchasing an additional 9,916 shares in the last quarter. Finally, Seizert Capital Partners LLC boosted its holdings in Elevance Health by 26.3% during the third quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock valued at $54,199,000 after purchasing an additional 21,708 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

ELV stock opened at $381.38 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a 50 day moving average price of $422.32 and a 200 day moving average price of $494.43. Elevance Health, Inc. has a fifty-two week low of $375.29 and a fifty-two week high of $567.26. The stock has a market capitalization of $88.45 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued 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 the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.99 EPS. Analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

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 given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ELV. Truist Financial reaffirmed a “buy” rating and set a $520.00 price objective (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Barclays reduced their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. TD Cowen reduced their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Finally, Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

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.