Mcdonald Capital Investors Inc. CA Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

Mcdonald Capital Investors Inc. CA lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,879 shares of the company’s stock after selling 2,779 shares during the period. Elevance Health makes up 4.1% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 11th largest holding. Mcdonald Capital Investors Inc. CA owned about 0.06% of Elevance Health worth $66,497,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Catalytic Wealth RIA LLC purchased a new position in shares of Elevance Health in the 1st quarter worth about $291,000. Norden Group LLC purchased a new position in Elevance Health in the first quarter worth about $227,000. Advisory Alpha LLC lifted its stake in shares of Elevance Health by 68.1% in the first quarter. Advisory Alpha LLC now owns 955 shares of the company’s stock worth $495,000 after buying an additional 387 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Elevance Health by 5.3% during the first quarter. Manchester Capital Management LLC now owns 875 shares of the company’s stock valued at $454,000 after buying an additional 44 shares during the last quarter. Finally, MGB Wealth Management LLC bought a new stake in shares of Elevance Health during the first quarter valued at approximately $377,000. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ELV. Wells Fargo & Company lowered their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Truist Financial reaffirmed a “buy” rating and set a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday. One research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Trading Up 2.7 %

Shares of ELV stock opened at $428.93 on Thursday. 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 $99.48 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26. The firm has a fifty day moving average price of $494.37 and a 200-day moving average price of $519.32.

Elevance Health (NYSE:ELV) last released its quarterly 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 company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $8.99 EPS. As a group, equities analysts predict that Elevance Health, Inc. will post 32.93 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is 23.77%.

Insiders Place Their Bets

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 shares were 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 $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

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.