World Equity Group Inc. Sells 2,486 Shares of Elevance Health, Inc. (NYSE:ELV)

World Equity Group Inc. trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 66.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,241 shares of the company’s stock after selling 2,486 shares during the period. World Equity Group Inc.’s holdings in Elevance Health were worth $645,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of ELV. Asset Management One Co. Ltd. lifted its stake in shares of Elevance Health by 1.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 92,560 shares of the company’s stock valued at $48,131,000 after purchasing an additional 1,037 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Elevance Health by 1.6% in the 3rd quarter. QRG Capital Management Inc. now owns 82,393 shares of the company’s stock worth $42,844,000 after acquiring an additional 1,318 shares during the last quarter. National Pension Service grew its holdings in Elevance Health by 14.4% during the third quarter. National Pension Service now owns 474,072 shares of the company’s stock worth $246,517,000 after buying an additional 59,779 shares in the last quarter. Vestor Capital LLC increased its stake in Elevance Health by 38.3% in the 3rd quarter. Vestor Capital LLC now owns 2,346 shares of the company’s stock valued at $1,220,000 after buying an additional 650 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new position in Elevance Health during the third quarter valued at about $915,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday. Truist Financial reiterated a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Morgan Stanley cut their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Bank of America reaffirmed a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Finally, Argus cut Elevance Health from a “buy” rating to a “hold” rating 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $544.53.

Elevance Health Price Performance

NYSE ELV traded up $2.52 during trading hours on Monday, reaching $416.53. 231,229 shares of the stock traded hands, compared to its average volume of 1,118,117. The stock has a 50 day simple moving average of $501.96 and a two-hundred day simple moving average of $521.52. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $96.60 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $8.99 EPS. On average, analysts predict that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.57%. 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.