Prudent Man Advisors LLC Cuts Stock Position in Elevance Health, Inc. (NYSE:ELV)

Prudent Man Advisors LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,482 shares of the company’s stock after selling 26 shares during the period. Prudent Man Advisors LLC’s holdings in Elevance Health were worth $771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of Elevance Health in the 2nd quarter worth $27,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health in the second quarter valued at about $28,000. PSI Advisors LLC acquired a new stake in Elevance Health in the third quarter worth about $27,000. Eastern Bank purchased a new stake in shares of Elevance Health during the third quarter worth about $31,000. Finally, Crewe Advisors LLC acquired a new position in shares of Elevance Health during the first quarter valued at about $40,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 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 46.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. TD Cowen lowered their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Cantor Fitzgerald dropped their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada reduced their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, Barclays dropped their price target 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Stock Performance

ELV opened at $400.69 on Monday. The stock has a market cap of $92.93 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.19 and a beta of 0.85. 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 firm has a fifty day moving average price of $475.29 and a 200 day moving average price of $513.44. 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 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). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the previous year, the company earned $8.99 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 yield of 1.63%. Elevance Health’s dividend payout ratio is currently 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.