Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,848,020 shares of the company’s stock after acquiring an additional 85,770 shares during the period. Geode Capital Management LLC’s holdings in Elevance Health were worth $2,511,814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Iridian Asset Management LLC CT grew its stake in shares of Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after purchasing an additional 3,786 shares during the last quarter. International Assets Investment Management LLC grew its position in Elevance Health by 85,533.1% in the third 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 last quarter. Benjamin Edwards Inc. increased its holdings in shares of Elevance Health by 1,711.9% in the third 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Elevance Health by 5.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock valued at $109,127,000 after acquiring an additional 9,916 shares during the last quarter. Finally, Seizert Capital Partners LLC boosted its stake in shares of 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 in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Elevance Health 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 transaction of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 3.5 %

ELV opened at $395.60 on Tuesday. The company has a market capitalization of $91.75 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. The business has a 50-day moving average of $431.73 and a 200-day moving average of $497.93. Elevance Health, Inc. has a fifty-two week low of $379.29 and a fifty-two week 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.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the business posted $8.99 EPS. Elevance Health’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 32.96 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. Shareholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. TD Cowen reduced their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Mizuho dropped 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 report on Tuesday, November 5th. Cantor Fitzgerald reduced their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

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.