Elevance Health, Inc. (NYSE:ELV) is Unison Asset Management LLC’s 5th Largest Position

Unison Asset Management LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 0.2% in the third quarter, Holdings Channel.com reports. The fund owned 24,031 shares of the company’s stock after selling 38 shares during the quarter. Elevance Health comprises about 5.9% of Unison Asset Management LLC’s portfolio, making the stock its 5th largest holding. Unison Asset Management LLC’s holdings in Elevance Health were worth $12,496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ELV. Bank & Trust Co acquired a new position in Elevance Health in the second quarter valued at $27,000. PSI Advisors LLC acquired a new position in Elevance Health during the third quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health during the second quarter worth approximately $28,000. Strategic Financial Concepts LLC acquired a new stake in shares of Elevance Health in the second quarter worth $30,000. Finally, Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter valued at $31,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on 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 approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 0.8 %

Shares of NYSE:ELV opened at $405.70 on Monday. The stock has a market capitalization of $94.09 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.20 and a beta of 0.85. Elevance Health, Inc. has a 1-year low of $391.02 and a 1-year high of $567.26. The company’s fifty day moving average is $460.70 and its two-hundred day moving average is $508.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business 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 firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company posted $8.99 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.61%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ELV shares. Stephens reaffirmed 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 shares of Elevance Health in a research report on Friday, October 18th. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald dropped their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $539.20.

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.