Pathstone Holdings LLC Sells 3,907 Shares of Elevance Health, Inc. (NYSE:ELV)

Pathstone Holdings LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,056 shares of the company’s stock after selling 3,907 shares during the quarter. Pathstone Holdings LLC’s holdings in Elevance Health were worth $22,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank & Trust Co bought a new position in shares of Elevance Health in the 2nd quarter valued at approximately $27,000. PSI Advisors LLC acquired a new position in Elevance Health in the 3rd quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the 2nd quarter worth $28,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health during the 2nd quarter worth $30,000. Finally, Eastern Bank acquired a new stake in shares of Elevance Health in the third quarter valued at about $31,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ELV. Morgan Stanley dropped their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Raymond James set a $485.00 price objective on Elevance Health in a research 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 research report on Friday, October 18th. 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. Finally, Truist Financial restated a “buy” rating and set a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a report 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Trading Down 1.6 %

Shares of ELV opened at $394.20 on Wednesday. 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 stock has a market cap of $91.42 billion, a PE ratio of 14.37, a PEG ratio of 1.19 and a beta of 0.85. Elevance Health, Inc. has a 1 year low of $391.83 and a 1 year high of $567.26. The stock has a 50 day simple moving average of $469.43 and a 200-day simple moving average of $511.63.

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

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.65%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

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.