Drucker Wealth 3.0 LLC Has $2.28 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Drucker Wealth 3.0 LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 3.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,384 shares of the company’s stock after buying an additional 139 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Elevance Health were worth $2,280,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Iridian Asset Management LLC CT grew its holdings in Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after purchasing an additional 3,786 shares during 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 worth $276,972,000 after buying an additional 532,016 shares during the period. Benjamin Edwards Inc. grew its stake in Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after buying an additional 50,603 shares during the last quarter. 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 acquiring an additional 9,916 shares during the period. Finally, Seizert Capital Partners LLC lifted its position in Elevance Health by 26.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock worth $54,199,000 after acquiring an additional 21,708 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 2.8 %

Shares of NYSE:ELV opened at $382.14 on Monday. The company has a market capitalization of $88.63 billion, a PE ratio of 13.93, a P/E/G ratio of 1.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company’s fifty day moving average is $434.22 and its 200-day moving average is $498.97. Elevance Health, Inc. has a 52 week low of $379.29 and a 52 week high of $567.26.

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

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 1.71%. Elevance Health’s payout ratio is 23.77%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. UBS Group lowered their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Truist Financial restated a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. One 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were 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 owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

Elevance Health Company 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.