Elevance Health, Inc. (NYSE:ELV) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 43.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259 shares of the company’s stock after selling 196 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Elevance Health were worth $134,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of Elevance Health during the 3rd quarter valued at approximately $55,000. Livelsberger Financial Advisory purchased a new position in shares of Elevance Health during the 3rd quarter valued at approximately $155,000. Retirement Guys Formula LLC increased its holdings in shares of Elevance Health by 8.3% during the 3rd quarter. Retirement Guys Formula LLC now owns 2,710 shares of the company’s stock valued at $1,409,000 after purchasing an additional 208 shares in the last quarter. Border to Coast Pensions Partnership Ltd increased its holdings in shares of Elevance Health by 4.5% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 57,925 shares of the company’s stock valued at $30,033,000 after purchasing an additional 2,471 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in shares of Elevance Health by 15.2% during the 3rd quarter. Toth Financial Advisory Corp now owns 9,835 shares of the company’s stock valued at $5,114,000 after purchasing an additional 1,296 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.6 %

Shares of ELV opened at $419.84 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The firm has a 50-day moving average price of $522.44 and a 200 day moving average price of $526.65. The firm 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 (NYSE:ELV) last announced its 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). The company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $8.99 EPS. Sell-side analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend 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%.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, 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. In other news, 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ELV shares. Royal Bank of Canada cut their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. TD Cowen cut their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday. Bank of America reissued a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday. Finally, Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a 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 issued a strong buy rating to the company. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $557.20.

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.