Signaturefd LLC Sells 165 Shares of Elevance Health, Inc. (NYSE:ELV)

Signaturefd LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% during the 3rd quarter, Holdings Channel reports. The fund owned 4,454 shares of the company’s stock after selling 165 shares during the period. Signaturefd LLC’s holdings in Elevance Health were worth $2,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC grew its stake in Elevance Health by 5.3% in the third quarter. Sequoia Financial Advisors LLC now owns 6,665 shares of the company’s stock valued at $3,466,000 after purchasing an additional 337 shares during the last quarter. Foundations Investment Advisors LLC grew its position in shares of Elevance Health by 15.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 29,137 shares of the company’s stock worth $15,151,000 after buying an additional 3,893 shares during the last quarter. Waterway Wealth Management LLC raised its stake in shares of Elevance Health by 18.2% during the 3rd quarter. Waterway Wealth Management LLC now owns 538 shares of the company’s stock worth $280,000 after acquiring an additional 83 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Elevance Health during the third quarter valued at approximately $55,000. Finally, Livelsberger Financial Advisory acquired a new stake in Elevance Health in the third quarter valued at approximately $155,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ELV shares. Bank of America reaffirmed a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Barclays decreased their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday. TD Cowen dropped their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $557.20.

Insider Activity at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related 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 value of $3,205,182.38. Following the completion of the sale, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Elevance Health Price Performance

Shares of ELV opened at $419.84 on Wednesday. The business’s 50-day moving average is $522.44 and its two-hundred day moving average is $526.65. The company has a market capitalization of $97.58 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. 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 (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 company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the prior year, the business posted $8.99 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

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.