BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,785 Shares of Elevance Health, Inc. (NYSE:ELV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 13.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,782 shares of the company’s stock after selling 5,785 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Elevance Health were worth $20,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. UBS Group decreased their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald cut their price target 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. Finally, Barclays cut their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Elevance Health Trading Up 1.0 %

Shares of Elevance Health stock opened at $406.96 on Friday. The firm has a market cap of $94.38 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.20 and a beta of 0.85. The business has a 50-day moving average price of $446.87 and a 200-day moving average price of $504.38. 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, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.99 EPS. Equities research analysts anticipate 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. Investors of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.60%. Elevance Health’s dividend payout ratio is currently 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.