IFM Investors Pty Ltd Acquires 978 Shares of Elevance Health, Inc. (NYSE:ELV)

IFM Investors Pty Ltd raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,132 shares of the company’s stock after acquiring an additional 978 shares during the quarter. IFM Investors Pty Ltd’s holdings in Elevance Health were worth $26,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Bank & Trust Co purchased a new position in shares of Elevance Health during the 2nd quarter valued at $27,000. PSI Advisors LLC purchased a new position in shares of Elevance Health during the 3rd quarter valued at $27,000. Palisade Asset Management LLC purchased a new position in shares of Elevance Health during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 2nd quarter valued at $28,000. Finally, Strategic Financial Concepts LLC purchased a new position in Elevance Health in the second quarter worth $30,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ELV has been the subject of several research reports. Bank of America reiterated a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday. Barclays cut 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. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, 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 research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $551.07.

Elevance Health Trading Up 2.5 %

Shares of NYSE:ELV traded up $10.40 during midday trading on Thursday, hitting $425.94. 900,990 shares of the stock traded hands, compared to its average volume of 1,092,489. The stock has a market capitalization of $99.00 billion, a PE ratio of 16.10, a P/E/G ratio of 1.08 and a beta of 0.82. The business’s 50 day moving average is $519.97 and its two-hundred day moving average is $525.88. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last released 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). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. 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 company earned $8.99 earnings per share. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts forecast that Elevance Health, Inc. will post 37.26 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. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is currently 24.64%.

Insider Buying and Selling

In other Elevance Health news, 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 owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred 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 transaction, the director now directly owns 8,744 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

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.