CENTRAL TRUST Co Sells 819 Shares of Elevance Health, Inc. (NYSE:ELV)

CENTRAL TRUST Co trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 34.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,531 shares of the company’s stock after selling 819 shares during the quarter. CENTRAL TRUST Co’s holdings in Elevance Health were worth $796,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bank & Trust Co acquired a new stake in Elevance Health in the second quarter worth $27,000. Palisade Asset Management LLC acquired a new stake in shares of Elevance Health in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health in the 2nd quarter valued at about $28,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health during the 2nd quarter worth approximately $30,000. Finally, Eastern Bank bought a new position in Elevance Health in the third quarter worth approximately $31,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction 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 sale, the director now 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. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of a number of research reports. Cantor Fitzgerald lowered their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. UBS Group dropped 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 note on Friday, October 18th. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Royal Bank of Canada cut their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, TD Cowen lowered their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $551.07.

Elevance Health Trading Up 1.5 %

NYSE ELV opened at $425.35 on Friday. The stock has a market capitalization of $98.86 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.08 and a beta of 0.82. The business’s fifty day moving average is $517.51 and its 200-day moving average is $525.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the previous year, the firm earned $8.99 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.