UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 31,740 Shares of Elevance Health, Inc. (NYSE:ELV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,152,613 shares of the company’s stock after purchasing an additional 31,740 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.93% of Elevance Health worth $1,119,359,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Kennedy Capital Management LLC acquired a new stake in shares of Elevance Health in the 1st quarter valued at approximately $3,309,000. B. Riley Wealth Advisors Inc. raised its position in Elevance Health by 6.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,855 shares of the company’s stock worth $1,480,000 after acquiring an additional 172 shares in the last quarter. Tidal Investments LLC lifted its stake in Elevance Health by 5.2% in the first quarter. Tidal Investments LLC now owns 6,229 shares of the company’s stock valued at $3,230,000 after acquiring an additional 310 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Elevance Health in the 1st quarter valued at about $1,954,000. Finally, Atria Investments Inc grew its position in shares of Elevance Health by 4.0% in the 1st quarter. Atria Investments Inc now owns 19,898 shares of the company’s stock valued at $10,318,000 after acquiring an additional 765 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Morgan Stanley dropped their price objective 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. Cantor Fitzgerald reduced their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada dropped their price target on 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 cut their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Insider Activity at Elevance Health

In related 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 transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

NYSE ELV opened at $402.80 on Thursday. The firm has a 50-day moving average price of $452.22 and a two-hundred day moving average price of $506.22. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26. The company has a market capitalization of $93.42 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.21 and a beta of 0.85. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last issued 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the firm posted $8.99 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend 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.