Arete Wealth Advisors LLC Sells 557 Shares of Elevance Health, Inc. (NYSE:ELV)

Arete Wealth Advisors LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 42.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 757 shares of the company’s stock after selling 557 shares during the period. Arete Wealth Advisors LLC’s holdings in Elevance Health were worth $393,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ELV. Coldstream Capital Management Inc. boosted its stake in Elevance Health by 13.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,186 shares of the company’s stock worth $2,132,000 after purchasing an additional 490 shares during the period. Geode Capital Management LLC boosted its stake in Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after purchasing an additional 85,770 shares during the period. Brophy Wealth Management LLC acquired a new position in Elevance Health in the 3rd quarter worth $200,000. Executive Wealth Management LLC acquired a new position in Elevance Health in the 3rd quarter worth $10,901,000. Finally, Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter worth $26,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ELV shares. Barclays reduced their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Truist Financial reaffirmed a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. TD Cowen reduced their price objective 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. Finally, Wells Fargo & Company reduced their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Trading Up 0.8 %

Shares of NYSE:ELV opened at $381.38 on Friday. Elevance Health, Inc. has a 52-week low of $375.29 and a 52-week high of $567.26. The company has a market capitalization of $88.45 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83. The company has a 50-day simple moving average of $422.32 and a 200 day simple moving average of $494.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last issued 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 net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the business posted $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.71%. Elevance Health’s dividend payout ratio is currently 23.77%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

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.