Elevance Health, Inc. (NYSE:ELV) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its position in Elevance Health, Inc. (NYSE:ELV) by 10.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,314 shares of the company’s stock after selling 156 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Elevance Health were worth $683,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank & Trust Co bought a new position in shares of Elevance Health during the 2nd quarter valued at about $27,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the 3rd quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health during the 2nd quarter worth $28,000. Strategic Financial Concepts LLC acquired a new stake in shares of Elevance Health during the second quarter worth $30,000. Finally, Eastern Bank purchased a new stake in shares of Elevance Health during the third quarter valued at $31,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

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 stock was sold at an average price of $432.14, for a total transaction 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 $3,639,915.22. This represents a 46.82 % decrease in their position. 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.

Elevance Health Stock Down 1.5 %

ELV stock opened at $400.78 on Friday. 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 firm has a market cap of $92.95 billion, a PE ratio of 14.61, a PEG ratio of 1.22 and a beta of 0.85. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26. The company has a fifty day simple moving average of $478.13 and a 200 day simple moving average of $514.55.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the company posted $8.99 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a 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 for the company in a research report on Monday, November 4th. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. UBS Group reduced their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, Barclays dropped their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health 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.