Ballentine Partners LLC Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

by · The Markets Daily

Ballentine Partners LLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 13.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,302 shares of the company’s stock after selling 345 shares during the period. Ballentine Partners LLC’s holdings in Elevance Health were worth $1,197,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ELV. Capital Advisors Ltd. LLC boosted its holdings in shares of Elevance Health by 8.8% during the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after purchasing an additional 20 shares during the period. Bedel Financial Consulting Inc. grew its position in shares of Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after buying an additional 20 shares during the last quarter. American Trust increased its stake in shares of Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 shares during the period. Fiduciary Alliance LLC raised its holdings in shares of Elevance Health by 3.6% during the first quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after acquiring an additional 21 shares in the last quarter. Finally, Ascent Wealth Partners LLC lifted its stake in Elevance Health by 1.8% in the first quarter. Ascent Wealth Partners LLC now owns 1,193 shares of the company’s stock worth $619,000 after acquiring an additional 21 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The shares were 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 of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction 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 approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ELV shares. Morgan Stanley cut their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America reiterated a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Cantor Fitzgerald lowered their target price 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. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Finally, TD Cowen lowered their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $551.07.

Check Out Our Latest Research Report on ELV

Elevance Health Price Performance

NYSE ELV opened at $425.35 on Friday. The company has a market cap of $98.86 billion, a PE ratio of 16.08, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The firm’s 50 day moving average price is $517.51 and its 200-day moving average price is $525.13.

Elevance Health (NYSE:ELV – Get Free Report) last released 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). 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 3.89% and a return on equity of 20.64%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $8.99 earnings per share. Sell-side analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Elevance Health Profile

(Free Report)

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.

See Also

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