Bleakley Financial Group LLC Sells 18,556 Shares of Elevance Health, Inc. (NYSE:ELV)

Bleakley Financial Group LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 76.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,817 shares of the company’s stock after selling 18,556 shares during the period. Bleakley Financial Group LLC’s holdings in Elevance Health were worth $3,025,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after acquiring an additional 523,910 shares during the period. M&G Plc bought a new position in shares of Elevance Health in the first quarter worth $203,389,000. Maj Invest Holding A S purchased a new stake in shares of Elevance Health in the second quarter worth $173,753,000. First Eagle Investment Management LLC boosted its stake in Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in Elevance Health during the first quarter worth about $109,435,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $430.76 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The firm has a market cap of $100.12 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The business has a 50 day moving average price of $526.74 and a 200-day moving average price of $527.46.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results 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 3.89% and a return on equity of 20.64%. 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 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.51%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target for the company. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday. UBS Group lowered their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company reiterated a “buy” rating on shares of Elevance Health in a research report on Friday. Finally, Barclays increased their target price on Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $572.27.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s 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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s 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 approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,170 shares of company stock worth $20,638,737 over the last quarter. 0.35% of the stock is owned by corporate insiders.

About Elevance Health

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.