Raymond James Trust N.A. Has $2.69 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Raymond James Trust N.A. grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.9% in the third quarter, HoldingsChannel reports. The fund owned 5,180 shares of the company’s stock after acquiring an additional 195 shares during the period. Raymond James Trust N.A.’s holdings in Elevance Health were worth $2,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Charles Schwab Investment Management Inc. grew its position in Elevance Health by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,242 shares of the company’s stock valued at $837,846,000 after purchasing an additional 17,536 shares in the last quarter. Banco Santander S.A. boosted its stake in shares of Elevance Health by 11.0% during the 3rd quarter. Banco Santander S.A. now owns 41,684 shares of the company’s stock worth $21,676,000 after buying an additional 4,117 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Elevance Health by 45.1% in the 3rd quarter. Pacer Advisors Inc. now owns 24,588 shares of the company’s stock valued at $12,786,000 after acquiring an additional 7,641 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after acquiring an additional 334,552 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new stake in Elevance Health during the third quarter worth about $533,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ELV. Mizuho decreased their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Barclays cut 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. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Stock Down 0.3 %

ELV opened at $402.55 on Friday. The stock has a fifty day moving average of $460.70 and a 200-day moving average of $509.01. The company has a market capitalization of $93.36 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.20 and a beta of 0.85. Elevance Health, Inc. has a fifty-two week low of $391.02 and a fifty-two week high of $567.26. 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 posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the prior year, the firm earned $8.99 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed 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 yield of 1.62%. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Activity

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s 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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% 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.