D.A. Davidson & CO. Sells 122 Shares of Elevance Health, Inc. (NYSE:ELV)

D.A. Davidson & CO. trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 2.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,798 shares of the company’s stock after selling 122 shares during the period. D.A. Davidson & CO.’s holdings in Elevance Health were worth $3,015,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Bank & Trust Co acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $27,000. PSI Advisors LLC acquired a new stake in Elevance Health in the 3rd quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $28,000. Strategic Financial Concepts LLC acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $30,000. Finally, Eastern Bank acquired a new stake in Elevance Health in the 3rd quarter valued at approximately $31,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Up 0.2 %

NYSE:ELV opened at $402.75 on Friday. Elevance Health, Inc. has a 1 year low of $391.02 and a 1 year high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market cap of $93.41 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.21 and a beta of 0.85. The stock has a 50-day moving average price of $449.52 and a two-hundred day moving average price of $505.51.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the firm posted $8.99 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given 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 is currently 23.77%.

Analyst Ratings Changes

A number of analysts have issued reports on ELV shares. Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald decreased their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Truist Financial reissued a “buy” rating and set a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Stephens reissued an “underperform” rating 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $539.20.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated 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 owns 8,423 shares in the company, valued at approximately $3,639,915.22. This 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. 0.29% of the stock is 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.