Thrivent Financial for Lutherans Sells 6,912 Shares of Elevance Health, Inc. (NYSE:ELV)

Thrivent Financial for Lutherans trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 306,829 shares of the company’s stock after selling 6,912 shares during the period. Thrivent Financial for Lutherans owned 0.13% of Elevance Health worth $159,551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Trust raised its position in shares of Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares during the period. Private Ocean LLC raised its holdings in Elevance Health by 6.7% in the 2nd quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after acquiring an additional 22 shares during the period. Hurlow Wealth Management Group Inc. lifted its position in Elevance Health by 1.9% during the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock worth $666,000 after acquiring an additional 23 shares during the last quarter. Cypress Wealth Services LLC boosted its holdings in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares during the period. Finally, CVA Family Office LLC grew its position in shares of Elevance Health by 4.2% in the second quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after purchasing an additional 24 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.6 %

NYSE ELV opened at $400.69 on Friday. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The company has a market capitalization of $92.93 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.19 and a beta of 0.85. The stock’s 50 day moving average is $475.29 and its two-hundred day moving average is $513.52. 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 announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 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 analyst estimates 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% compared to the same quarter last year. Equities analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ELV. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays cut their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Stephens restated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Wells Fargo & Company cut their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Truist Financial reissued a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target 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 stock was 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 directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

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.