Stock Yards Bank & Trust Co. Trims Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Stock Yards Bank & Trust Co. cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,415 shares of the company’s stock after selling 935 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Elevance Health were worth $2,816,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Anchor Investment Management LLC increased its stake in shares of Elevance Health by 22.9% in the third quarter. Anchor Investment Management LLC now owns 6,098 shares of the company’s stock worth $3,171,000 after buying an additional 1,135 shares during the last quarter. Tudor Financial Inc. acquired a new position in Elevance Health during the 3rd quarter worth $235,000. Te Ahumairangi Investment Management Ltd grew its holdings in Elevance Health by 39.6% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company’s stock worth $5,433,000 after acquiring an additional 2,983 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth about $2,828,000. Finally, TCW Group Inc. raised its stake in shares of Elevance Health by 71.8% in the 3rd quarter. TCW Group Inc. now owns 101,640 shares of the company’s stock valued at $52,853,000 after purchasing an additional 42,464 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Performance

ELV opened at $378.43 on Friday. 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 business’s 50 day moving average is $426.92 and its 200-day moving average is $496.22. The stock has a market cap of $87.77 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. Elevance Health, Inc. has a twelve month low of $377.97 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share 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 business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the firm earned $8.99 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. On average, analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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 given a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.72%. Elevance Health’s dividend payout ratio is presently 23.77%.

Analyst Ratings Changes

ELV has been the subject of several research analyst reports. Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. TD Cowen decreased their target price 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. Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, UBS Group dropped their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $539.20.

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.