Signature Estate & Investment Advisors LLC Sells 1,880 Shares of Elevance Health, Inc. (NYSE:ELV)

Signature Estate & Investment Advisors LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 23.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,215 shares of the company’s stock after selling 1,880 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Elevance Health were worth $3,232,000 as of its most recent SEC filing.

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

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 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 in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELV. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Wells Fargo & Company cut their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Raymond James set a $485.00 price objective on Elevance Health in a research note on Friday, October 18th. Finally, Bank of America reiterated 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Trading Down 0.9 %

Shares of Elevance Health stock opened at $407.04 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $94.40 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.22 and a beta of 0.85. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The company has a 50-day simple moving average of $480.88 and a 200 day simple moving average of $515.30.

Elevance Health (NYSE:ELV) last released 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). The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.99 EPS. Research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.60%. Elevance Health’s dividend payout ratio is presently 23.77%.

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.