17,094 Elevance Health, Inc. $ELV Shares Sold by M&G PLC

M&G PLC reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,024 shares of the company’s stock after selling 17,094 shares during the period. M&G PLC owned approximately 0.13% of Elevance Health worth $108,151,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Elevance Health during the 2nd quarter valued at about $7,344,424,000. Bank of New York Mellon Corp bought a new stake in Elevance Health during the 2nd quarter valued at about $1,246,349,000. Legal & General Group Plc purchased a new position in Elevance Health in the second quarter worth about $688,469,000. Amundi grew its holdings in shares of Elevance Health by 145.7% during the first quarter. Amundi now owns 2,693,664 shares of the company’s stock valued at $788,570,000 after buying an additional 1,597,497 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Elevance Health during the second quarter valued at approximately $591,084,000. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ratnakar Lavu sold 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $440.00, for a total value of $572,000.00. Following the transaction, the executive vice president owned 14,849 shares of the company’s stock, valued at approximately $6,533,560. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the sale, the chief financial officer owned 19,919 shares of the company’s stock, valued at $8,766,949.47. This trade represents a 34.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $417.73 on Tuesday. The business’s fifty day moving average price is $413.37 and its 200-day moving average price is $373.82. The stock has a market capitalization of $90.26 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.07 and a beta of 0.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.47 and a quick ratio of 1.47. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $450.69.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $49.28 billion. During the same quarter in the previous year, the company posted $6.03 earnings per share. Elevance Health’s revenue was up .7% compared to the same quarter last year. On average, equities analysts predict that Elevance Health, Inc. will post 29.15 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on ELV. Morgan Stanley upped their price objective on Elevance Health from $404.00 to $449.00 and gave the company an “equal weight” rating in a research report on Thursday, October 22nd. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a report on Thursday, July 16th. UBS Group upped their price target on Elevance Health from $460.00 to $523.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Wells Fargo & Company boosted their target price on Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 27th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $456.48.

Elevance Health Company 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.