J. W. Coons Advisors LLC Sells 50 Shares of Elevance Health, Inc. (NYSE:ELV)

J. W. Coons Advisors LLC trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,480 shares of the company’s stock after selling 50 shares during the quarter. J. W. Coons Advisors LLC’s holdings in Elevance Health were worth $770,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Bank & Trust Co bought a new stake in Elevance Health during the second quarter worth about $27,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health in the second quarter valued at approximately $28,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health during the second quarter valued at approximately $30,000. Finally, Eastern Bank bought a new stake in Elevance Health during the third quarter worth $31,000. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Truist Financial restated a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research report on Friday, October 18th. Finally, Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. One equities 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 given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $539.20.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

Elevance Health stock opened at $400.69 on Monday. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26. 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 stock’s 50 day moving average is $475.29 and its 200 day moving average is $513.44. The firm has a market cap of $92.93 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.19 and a beta of 0.85.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the business posted $8.99 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect 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. Stockholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

About Elevance Health

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.