Ascent Group LLC Has $3.20 Million Position in Elevance Health, Inc. (NYSE:ELV)

Ascent Group LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 25.6% during the 3rd quarter, Holdings Channel reports. The firm owned 6,156 shares of the company’s stock after purchasing an additional 1,253 shares during the quarter. Ascent Group LLC’s holdings in Elevance Health were worth $3,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Sanders Capital LLC boosted its holdings in Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after purchasing an additional 44,805 shares during the period. Ameriprise Financial Inc. raised its position in shares of Elevance Health by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after buying an additional 190,118 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. Legal & General Group Plc increased its position in Elevance Health by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after purchasing an additional 64,376 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Elevance Health by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,152,613 shares of the company’s stock valued at $1,119,359,000 after acquiring an additional 31,740 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 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 of the company’s stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ELV shares. UBS Group decreased their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Morgan Stanley reduced their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Barclays reduced their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company dropped their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $406.96 on Monday. The company has a 50 day moving average of $446.87 and a 200 day moving average of $504.13. The stock has a market cap of $94.38 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.21 and a beta of 0.85. Elevance Health, Inc. has a 12 month low of $391.02 and a 12 month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the prior year, the firm earned $8.99 EPS. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.60%. 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.