Elevance Health, Inc. (NYSE:ELV) Holdings Lowered by RDA Financial Network

RDA Financial Network lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,352 shares of the company’s stock after selling 121 shares during the period. Elevance Health comprises 1.0% of RDA Financial Network’s investment portfolio, making the stock its 23rd largest holding. RDA Financial Network’s holdings in Elevance Health were worth $3,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in Elevance Health by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after acquiring an additional 190,118 shares in the last quarter. Capital International Investors boosted its position in Elevance Health by 3.7% during the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after purchasing an additional 123,802 shares during the last quarter. Legal & General Group Plc increased its holdings in Elevance Health by 2.9% in the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after buying an additional 64,376 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after acquiring an additional 523,910 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after acquiring an additional 275,708 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of ELV stock traded down $24.50 during trading hours on Tuesday, reaching $484.52. 1,678,134 shares of the company were exchanged, compared to its average volume of 1,024,508. Elevance Health, Inc. has a fifty-two week low of $435.99 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s fifty day moving average is $531.66 and its two-hundred day moving average is $529.09. The company has a market cap of $112.61 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $9.04 EPS. Sell-side analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America reaffirmed a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research report on Tuesday, October 1st. TD Cowen dropped their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Royal Bank of Canada raised their price target on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Barclays boosted their price objective on shares of Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Buy” and an average target price of $605.07.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,058 shares of company stock worth $17,588,116. 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.