Venturi Wealth Management LLC Sells 86 Shares of Elevance Health, Inc. (NYSE:ELV)

Venturi Wealth Management LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 31.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190 shares of the company’s stock after selling 86 shares during the period. Venturi Wealth Management LLC’s holdings in Elevance Health were worth $99,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new stake in shares of Elevance Health in the 2nd quarter valued at about $27,000. PSI Advisors LLC bought a new position in shares of Elevance Health in the third quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health in the second quarter valued at approximately $28,000. Strategic Financial Concepts LLC bought a new stake in Elevance Health during the second quarter valued at approximately $30,000. Finally, Eastern Bank purchased a new position in Elevance Health in the 3rd quarter worth approximately $31,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $407.04 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $480.88 and a 200-day moving average price of $515.30. The company has a market cap of $94.40 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $8.99 EPS. As a group, equities analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The business 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 $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 sale, 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 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ELV. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Raymond James set a $485.00 price target on Elevance Health in a research note on Friday, October 18th. TD Cowen reduced their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Bank of America restated a “neutral” rating and issued a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald reduced their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. One 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $539.20.

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.