National Bank of Canada FI Trims Stock Holdings in Elevance Health, Inc. $ELV

National Bank of Canada FI lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 9.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,798 shares of the company’s stock after selling 19,929 shares during the quarter. National Bank of Canada FI owned 0.08% of Elevance Health worth $70,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. CANADA LIFE ASSURANCE Co boosted its position in shares of Elevance Health by 4.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 288,545 shares of the company’s stock worth $112,403,000 after purchasing an additional 12,520 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Elevance Health during the second quarter worth $260,000. Auxier Asset Management grew its stake in shares of Elevance Health by 1.9% in the second quarter. Auxier Asset Management now owns 36,753 shares of the company’s stock valued at $14,295,000 after buying an additional 681 shares in the last quarter. Chapman Financial Group LLC purchased a new stake in shares of Elevance Health in the 2nd quarter valued at $809,000. Finally, FSB Premier Wealth Management Inc. raised its holdings in shares of Elevance Health by 15.6% in the 2nd quarter. FSB Premier Wealth Management Inc. now owns 3,933 shares of the company’s stock valued at $1,530,000 after buying an additional 531 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ELV shares. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Bank of America increased their target price on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, TD Cowen upped their price objective on Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Twelve research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $400.83.

Elevance Health Stock Down 0.4%

Shares of Elevance Health stock opened at $358.95 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a market capitalization of $79.77 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.66 and a beta of 0.52. The company has a 50 day moving average of $335.31 and a 200 day moving average of $331.73.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $8.37 EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 1.9%. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

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.