Leuthold Group LLC Sells 846 Shares of Elevance Health, Inc. (NYSE:ELV)

Leuthold Group LLC lessened its position in Elevance Health, Inc. (NYSE:ELV) by 6.2% in the 3rd quarter, Holdings Channel reports. The firm owned 12,700 shares of the company’s stock after selling 846 shares during the period. Leuthold Group LLC’s holdings in Elevance Health were worth $6,604,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in shares of Elevance Health by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after purchasing an additional 190,118 shares in the last quarter. Capital International Investors raised its holdings in Elevance Health by 3.7% during the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after buying an additional 123,802 shares during the period. Legal & General Group Plc lifted its stake in Elevance Health by 2.9% in the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock valued at $1,217,607,000 after buying an additional 64,376 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after buying an additional 523,910 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $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 can be accessed through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’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 directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America restated a “neutral” rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. Finally, Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $551.07.

Elevance Health Stock Up 0.6 %

Elevance Health stock opened at $428.00 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50-day moving average is $515.15 and its 200-day moving average is $524.74. The firm has a market capitalization of $99.47 billion, a PE ratio of 16.07, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results 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 return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the firm earned $8.99 EPS. Elevance Health’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared 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. This represents a $6.52 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is 24.64%.

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.