Paloma Partners Management Co Acquires 1,564 Shares of Elevance Health, Inc. (NYSE:ELV)

Paloma Partners Management Co raised its stake in Elevance Health, Inc. (NYSE:ELV) by 223.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,264 shares of the company’s stock after acquiring an additional 1,564 shares during the quarter. Paloma Partners Management Co’s holdings in Elevance Health were worth $1,177,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Iridian Asset Management LLC CT boosted its position in Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after buying an additional 3,786 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Elevance Health by 5.0% during 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 acquiring an additional 9,916 shares during the last quarter. Seizert Capital Partners LLC increased 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 in the last quarter. Finally, Mizuho Securities USA LLC raised its position in Elevance Health by 185.4% in the third quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock valued at $26,600,000 after purchasing an additional 33,231 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on ELV. Mizuho lowered their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company dropped their price target 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. Morgan Stanley reduced their price objective 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, October 23rd. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Raymond James set a $485.00 price target on Elevance Health in a research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Insider Buying and Selling

In other Elevance Health 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 transaction 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. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Up 0.8 %

Shares of NYSE ELV opened at $410.39 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $95.18 billion, a PE ratio of 14.97, a P/E/G ratio of 1.21 and a beta of 0.85. The company’s fifty day simple moving average is $446.87 and its 200 day simple moving average is $504.13. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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 return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the company earned $8.99 EPS. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side 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. Stockholders 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 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is 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.