Zions Bancorporation N.A. Sells 34 Shares of Elevance Health, Inc. (NYSE:ELV)

Zions Bancorporation N.A. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 17.6% in the third quarter, HoldingsChannel reports. The fund owned 159 shares of the company’s stock after selling 34 shares during the period. Zions Bancorporation N.A.’s holdings in Elevance Health were worth $83,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank & Trust Co bought a new stake in Elevance Health in the second quarter valued at approximately $27,000. PSI Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health during the second quarter worth about $28,000. Strategic Financial Concepts LLC bought a new stake in shares of Elevance Health in the second quarter worth about $30,000. Finally, Eastern Bank bought a new position in shares of Elevance Health during the 3rd 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 analysts have weighed in on ELV shares. Royal Bank of Canada cut their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Mizuho reduced their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. Finally, Barclays decreased their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Insider Buying and Selling

In other Elevance Health 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 completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is currently owned by insiders.

Elevance Health Price Performance

NYSE:ELV opened at $400.78 on Friday. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The firm has a market capitalization of $92.95 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.22 and a beta of 0.85. The stock’s 50 day moving average price is $478.13 and its two-hundred day moving average price is $514.55. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

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

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a $1.63 dividend. 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 payout ratio is 23.77%.

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.