Acropolis Investment Management LLC Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

Acropolis Investment Management LLC cut its position in Elevance Health, Inc. (NYSE:ELV) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,570 shares of the company’s stock after selling 27 shares during the period. Acropolis Investment Management LLC’s holdings in Elevance Health were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank & Trust Co purchased a new stake in Elevance Health in the 2nd quarter worth $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Elevance Health during the second quarter worth about $28,000. PSI Advisors LLC bought a new stake in Elevance Health during the 3rd quarter valued at approximately $27,000. Eastern Bank purchased a new position in Elevance Health in the 3rd quarter worth approximately $31,000. Finally, Peterson Financial Group Inc. purchased a new position in Elevance Health in the 3rd quarter worth approximately $44,000. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was 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 accessible through the SEC website. 0.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ELV. Truist Financial reiterated a “buy” rating and set a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Cantor Fitzgerald dropped their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Mizuho decreased their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, UBS Group dropped their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Up 1.1 %

Shares of NYSE ELV opened at $407.33 on Friday. Elevance Health, Inc. has a 1 year low of $391.02 and a 1 year high of $567.26. The firm has a 50-day simple moving average of $446.87 and a two-hundred day simple moving average of $504.59. The company has a market cap of $94.47 billion, a P/E ratio of 14.85, a PEG ratio of 1.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (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 return on equity of 19.56% and a net margin of 3.68%. Elevance Health’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $8.99 earnings per share. Research analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 dividend yield of 1.60%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is presently 23.77%.

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.