Global Trust Asset Management LLC Reduces Stock Position in Elevance Health, Inc. (NYSE:ELV)

Global Trust Asset Management LLC lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,575 shares of the company’s stock after selling 66 shares during the quarter. Global Trust Asset Management LLC’s holdings in Elevance Health were worth $819,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its holdings in Elevance Health by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after acquiring an additional 190,118 shares during the period. Capital International Investors boosted its holdings in Elevance Health by 3.7% during the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after acquiring an additional 123,802 shares during the period. Legal & General Group Plc boosted its holdings in Elevance Health by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock valued at $1,217,607,000 after acquiring an additional 64,376 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after acquiring an additional 523,910 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after acquiring an additional 275,708 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.8 %

Shares of ELV stock opened at $418.75 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s fifty day moving average price is $519.97 and its 200 day moving average price is $525.88. The company has a market cap of $97.33 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly 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). 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 firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.99 EPS. On average, research analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. Elevance Health’s payout ratio is 24.64%.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $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. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Barclays decreased their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday. Morgan Stanley decreased their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $551.07.

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.