Hennion & Walsh Asset Management Inc. Trims Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Hennion & Walsh Asset Management Inc. lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 27.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,787 shares of the company’s stock after selling 1,049 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Elevance Health were worth $1,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ELV. International Assets Investment Management LLC raised its stake in Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after acquiring an additional 532,016 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. M&G Plc bought a new stake in shares of Elevance Health during the 1st quarter valued at $203,389,000. Maj Invest Holding A S purchased a new position in shares of Elevance Health during the 2nd quarter valued at $173,753,000. Finally, First Eagle Investment Management LLC lifted its stake in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 1.5 %

Shares of NYSE ELV opened at $425.27 on Friday. The stock has a market capitalization of $98.84 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $515.15 and its 200-day moving average price is $524.55.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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). 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 the consensus estimate of $43.47 billion. During the same period in the previous year, the business earned $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald decreased their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday. Royal Bank of Canada reduced their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Finally, Barclays dropped their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $551.07.

Insider Transactions at Elevance Health

In related 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 value 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 $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, 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 transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. 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 this link. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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.