Los Angeles Capital Management LLC Sells 86,628 Shares of Elevance Health, Inc. (NYSE:ELV)

Los Angeles Capital Management LLC reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 95.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,161 shares of the company’s stock after selling 86,628 shares during the period. Los Angeles Capital Management LLC’s holdings in Elevance Health were worth $2,164,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ELV. Bank & Trust Co bought a new stake in shares of Elevance Health during the second quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health during the 2nd quarter valued at about $28,000. PSI Advisors LLC purchased a new stake in Elevance Health in the 3rd quarter valued at about $27,000. Eastern Bank bought a new position in Elevance Health in the 3rd quarter worth about $31,000. Finally, Crewe Advisors LLC purchased a new position in shares of Elevance Health during the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health 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 owns 8,423 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. Royal Bank of Canada dropped their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Finally, Barclays reduced their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. One equities 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 data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Stock Down 0.5 %

NYSE:ELV opened at $410.89 on Thursday. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company’s 50 day moving average is $483.60 and its two-hundred day moving average is $516.04. 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 $95.29 billion, a PE ratio of 14.98, a P/E/G ratio of 1.23 and a beta of 0.85.

Elevance Health (NYSE:ELV) last released its 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 firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $8.99 EPS. Analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

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.