Icon Wealth Advisors LLC Grows Stock Position in Elevance Health, Inc. (NYSE:ELV)

Icon Wealth Advisors LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 157.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,089 shares of the company’s stock after acquiring an additional 1,279 shares during the period. Icon Wealth Advisors LLC’s holdings in Elevance Health were worth $1,086,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ELV. Iridian Asset Management LLC CT lifted its position 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 buying an additional 3,786 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Elevance Health by 5.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock valued at $109,127,000 after acquiring an additional 9,916 shares in the last quarter. Seizert Capital Partners LLC boosted its position in Elevance Health by 26.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock worth $54,199,000 after purchasing an additional 21,708 shares during the period. Finally, Mizuho Securities USA LLC increased its holdings in Elevance Health by 185.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock valued at $26,600,000 after purchasing an additional 33,231 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

ELV has been the topic of a number of recent research reports. Stephens restated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Mizuho decreased their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada dropped their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Stock Down 0.3 %

NYSE:ELV opened at $402.55 on Friday. Elevance Health, Inc. has a 52 week low of $391.02 and a 52 week high of $567.26. The firm has a market capitalization of $93.36 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.17 and a beta of 0.85. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $460.70 and a 200-day moving average of $509.20.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the prior year, the business earned $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is currently 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.