Palisades Hudson Asset Management L.P. Sells 260 Shares of Elevance Health, Inc. (NYSE:ELV)

Palisades Hudson Asset Management L.P. trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 21.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 978 shares of the company’s stock after selling 260 shares during the period. Palisades Hudson Asset Management L.P.’s holdings in Elevance Health were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Catalytic Wealth RIA LLC bought a new stake in shares of Elevance Health during the 1st quarter valued at $291,000. Norden Group LLC purchased a new position in shares of Elevance Health during the first quarter valued at $227,000. Diversify Advisory Services LLC bought a new stake in Elevance Health during the 1st quarter valued at $337,000. Janney Montgomery Scott LLC grew its position in shares of Elevance Health by 5.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,453 shares of the company’s stock worth $14,754,000 after buying an additional 1,519 shares during the last quarter. Finally, Financial Counselors Inc. increased its position in shares of Elevance Health by 3.1% during the first quarter. Financial Counselors Inc. now owns 2,111 shares of the company’s stock worth $1,095,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by insiders.

Elevance Health Price Performance

NYSE ELV traded up $0.94 on Monday, hitting $414.95. 129,106 shares of the company were exchanged, compared to its average volume of 1,117,893. 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 company has a market cap of $96.24 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.21 and a beta of 0.85. The firm has a 50 day moving average of $501.96 and a two-hundred day moving average of $521.52. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly 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 firm 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%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.99 earnings per share. On average, equities analysts predict that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.57%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Analysts Set New Price Targets

ELV has been the topic of a number of research reports. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Bank of America reissued a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Stephens restated 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 report on Friday, October 18th. Finally, Cantor Fitzgerald decreased their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $544.53.

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.