Caisse DE Depot ET Placement DU Quebec Sells 22,059 Shares of Elevance Health, Inc. (NYSE:ELV)

Caisse DE Depot ET Placement DU Quebec trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 596,019 shares of the company’s stock after selling 22,059 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.26% of Elevance Health worth $309,930,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Bank & Trust Co acquired a new stake in Elevance Health during the second quarter valued at approximately $27,000. PSI Advisors LLC bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the 2nd quarter valued at $28,000. Strategic Financial Concepts LLC bought a new stake in Elevance Health in the second quarter valued at $30,000. Finally, Eastern Bank acquired a new position in Elevance Health during the third quarter worth $31,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the topic of several analyst reports. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Truist Financial restated a “buy” rating and issued a $520.00 price target (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald dropped their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Morgan Stanley reduced their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, UBS Group decreased their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $539.20.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’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 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. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $407.33 on Friday. Elevance Health, Inc. has a 1 year low of $391.02 and a 1 year high of $567.26. The company’s 50-day moving average is $446.87 and its two-hundred day moving average is $504.59. 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 $94.47 billion, a PE ratio of 14.85, a PEG ratio of 1.20 and a beta of 0.85.

Elevance Health (NYSE:ELV) last announced 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). The business 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%. Elevance Health’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $8.99 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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