Valmark Advisers Inc. Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Valmark Advisers Inc. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,709 shares of the company’s stock after selling 98 shares during the period. Valmark Advisers Inc.’s holdings in Elevance Health were worth $889,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ELV. Diversify Advisory Services LLC increased its stake in Elevance Health by 6.2% in the third quarter. Diversify Advisory Services LLC now owns 701 shares of the company’s stock valued at $365,000 after purchasing an additional 41 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in shares of Elevance Health by 3.9% in the 3rd quarter. Integrated Advisors Network LLC now owns 5,942 shares of the company’s stock valued at $3,090,000 after buying an additional 222 shares in the last quarter. abrdn plc grew its position in shares of Elevance Health by 32.2% in the 3rd quarter. abrdn plc now owns 360,134 shares of the company’s stock valued at $186,540,000 after buying an additional 87,717 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in Elevance Health by 5.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock worth $263,000 after acquiring an additional 27 shares in the last quarter. Finally, Concord Wealth Partners lifted its position in Elevance Health by 9.3% in the third quarter. Concord Wealth Partners now owns 2,445 shares of the company’s stock valued at $1,271,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s 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 owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the sale, 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. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of several research reports. Cantor Fitzgerald dropped their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays decreased their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Finally, TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $551.07.

Elevance Health Trading Up 0.0 %

Shares of Elevance Health stock opened at $410.76 on Thursday. The firm has a market cap of $95.47 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The company’s 50-day simple moving average is $507.35 and its 200-day simple moving average is $522.74. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.99 EPS. As a group, equities research analysts anticipate 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. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 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.