Elevance Health, Inc. $ELV Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 17.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,956 shares of the company’s stock after selling 31,663 shares during the quarter. Elevance Health accounts for 0.4% of Jefferies Financial Group Inc.’s investment portfolio, making the stock its 26th biggest position. Jefferies Financial Group Inc.’s holdings in Elevance Health were worth $57,917,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ELV. First Command Advisory Services Inc. lifted its stake in shares of Elevance Health by 2,271.4% in the 3rd quarter. First Command Advisory Services Inc. now owns 166 shares of the company’s stock valued at $65,000 after acquiring an additional 159 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Elevance Health by 6.5% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 66,477 shares of the company’s stock valued at $25,848,000 after acquiring an additional 4,077 shares during the period. Bahl & Gaynor LLC purchased a new stake in Elevance Health during the 3rd quarter valued at about $61,009,000. AMG National Trust Bank boosted its holdings in Elevance Health by 1.9% during the 3rd quarter. AMG National Trust Bank now owns 13,085 shares of the company’s stock valued at $5,088,000 after acquiring an additional 239 shares during the period. Finally, Moneco Advisors LLC grew its position in Elevance Health by 1.6% during the 3rd quarter. Moneco Advisors LLC now owns 3,534 shares of the company’s stock worth $1,374,000 after acquiring an additional 56 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Mark Kaye sold 10,584 shares of the stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total value of $4,658,335.92. Following the completion of the transaction, the chief financial officer directly owned 19,919 shares of the company’s stock, valued at $8,766,949.47. This represents a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ratnakar Lavu sold 1,300 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $440.00, for a total transaction of $572,000.00. Following the completion of the transaction, the executive vice president directly owned 14,849 shares of the company’s stock, valued at approximately $6,533,560. The trade was a 8.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.34% of the stock is owned by insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $430.28 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68. The firm’s fifty day simple moving average is $414.63 and its 200 day simple moving average is $374.40. The stock has a market cap of $92.97 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 2.05 and a beta of 0.63. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $450.69.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 EPS for the quarter, topping the consensus estimate of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The business had revenue of $50.44 billion during the quarter, compared to analyst estimates of $49.28 billion. During the same period in the prior year, the business earned $6.03 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts predict that Elevance Health, Inc. will post 29.15 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a dividend of $1.72 per share. The ex-dividend date is Friday, December 4th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health’s payout ratio is currently 29.34%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ELV. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $451.00 price objective on shares of Elevance Health in a research report on Friday, October 23rd. UBS Group increased their price objective on Elevance Health from $460.00 to $523.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Robert W. Baird raised their target price on shares of Elevance Health from $393.00 to $406.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 27th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $456.48.

Elevance Health Company Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.