BNP Paribas Sells 194 Shares of Elevance Health, Inc. (NYSE:ELV)

BNP Paribas trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 1.6% during the 3rd quarter, Holdings Channel reports. The firm owned 12,150 shares of the company’s stock after selling 194 shares during the quarter. BNP Paribas’ holdings in Elevance Health were worth $6,318,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Iridian Asset Management LLC CT raised its stake in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after acquiring an additional 3,786 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Elevance Health by 5.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock worth $109,127,000 after purchasing an additional 9,916 shares during the last quarter. Seizert Capital Partners LLC increased its stake in shares of Elevance Health by 26.3% in the third quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company’s stock worth $54,199,000 after buying an additional 21,708 shares during the period. Finally, Mizuho Securities USA LLC raised its holdings in Elevance Health by 185.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock valued at $26,600,000 after buying an additional 33,231 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELV. UBS Group cut their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Truist Financial reissued a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Barclays lowered their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Mizuho decreased their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Price Performance

ELV opened at $401.80 on Wednesday. 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 market cap of $93.19 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85. The stock has a fifty day simple moving average of $454.96 and a two-hundred day simple moving average of $506.95. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last issued 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 company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.99 earnings per share. Research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal 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 paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.62%. Elevance Health’s dividend payout ratio is 23.77%.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.29% 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.