148,512 Elevance Health, Inc. $ELV Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 25.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 429,951 shares of the company’s stock after selling 148,512 shares during the period. Beutel Goodman & Co Ltd. owned 0.20% of Elevance Health worth $167,173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in Elevance Health during the second quarter worth about $7,344,424,000. State Street Corp raised its stake in Elevance Health by 1.3% in the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock valued at $4,032,283,000 after buying an additional 137,914 shares during the period. Wellington Management Group LLP raised its stake in Elevance Health by 12.0% in the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock valued at $3,563,142,000 after buying an additional 984,976 shares during the period. First Eagle Investment Management LLC raised its stake in Elevance Health by 1.4% in the second quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company’s stock valued at $1,619,701,000 after buying an additional 55,905 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Elevance Health in the second quarter valued at approximately $1,246,349,000. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares in the company, valued at $8,766,949.47. This trade represents a 34.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ratnakar Lavu sold 1,300 shares of Elevance Health stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $440.00, for a total value of $572,000.00. Following the sale, the executive vice president directly owned 14,849 shares of the company’s stock, valued at $6,533,560. This represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group reissued a “neutral” rating and set a $451.00 target price on shares of Elevance Health in a report on Friday, October 23rd. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a research note on Thursday, July 16th. Mizuho set a $490.00 price target on Elevance Health in a report on Friday, October 23rd. Finally, Guggenheim lifted their price objective on shares of Elevance Health from $460.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $456.48.

Elevance Health Trading Down 1.9%

Shares of ELV stock opened at $417.73 on Tuesday. The firm has a 50 day moving average price of $413.37 and a two-hundred day moving average price of $373.82. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $90.26 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $450.69.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.71 by $2.28. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The company had revenue of $50.44 billion during the quarter, compared to analysts’ expectations of $49.28 billion. During the same quarter in the previous year, the company posted $6.03 earnings per share. The business’s revenue was up .7% on a year-over-year basis. As a group, analysts predict that Elevance Health, Inc. will post 29.15 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 annualized dividend and a yield of 1.6%. Elevance Health’s payout ratio is 29.34%.

Elevance Health Profile

Elevance Health, Inc is a U.S. health benefits and services company. Formerly known as Anthem, Inc, it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans.

The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.

Elevance Health operates primarily in the United States, with health plans serving members across multiple states and access to broader provider networks through its Blue Cross Blue Shield affiliations.