Ruane Cunniff & Goldfarb L.P. Sells 19,538 Shares of Elevance Health, Inc. (NYSE:ELV)

Ruane Cunniff & Goldfarb L.P. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,004,533 shares of the company’s stock after selling 19,538 shares during the quarter. Elevance Health makes up approximately 8.2% of Ruane Cunniff & Goldfarb L.P.’s investment portfolio, making the stock its 3rd largest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Elevance Health were worth $522,357,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Iridian Asset Management LLC CT increased its position in Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after buying an additional 3,786 shares during the last quarter. International Assets Investment Management LLC increased its position in Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after buying an additional 532,016 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Elevance Health by 5.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock worth $109,127,000 after buying an additional 9,916 shares during the last quarter. Seizert Capital Partners LLC increased its position in Elevance Health by 26.3% during the third quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock worth $54,199,000 after buying an additional 21,708 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its position in Elevance Health by 185.4% during the third quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock worth $26,600,000 after buying an additional 33,231 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ELV shares. Wells Fargo & Company lowered their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Morgan Stanley lowered their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Mizuho decreased their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. TD Cowen decreased their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Cantor Fitzgerald decreased their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $539.20.

Insider Transactions at Elevance Health

In related news, 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 completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 0.2 %

Shares of NYSE:ELV opened at $402.80 on Thursday. The company has a fifty day moving average of $452.22 and a 200-day moving average of $506.22. The company has a market capitalization of $93.42 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a 52-week low of $391.02 and a 52-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 (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $8.99 earnings per share. On average, equities analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is presently 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.