Janus Henderson Group PLC Reduces Stake in Elevance Health, Inc. (NYSE:ELV)

Janus Henderson Group PLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 386,404 shares of the company’s stock after selling 1,731 shares during the quarter. Janus Henderson Group PLC owned 0.17% of Elevance Health worth $200,928,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. PSI Advisors LLC purchased a new stake in Elevance Health during the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the second quarter valued at about $28,000. Strategic Financial Concepts LLC purchased a new stake in Elevance Health in the second quarter valued at approximately $30,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter worth about $31,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the third quarter valued at approximately $44,000. Hedge funds and other 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 business’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 completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. UBS Group decreased their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Truist Financial restated a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Stock Down 0.5 %

ELV stock opened at $408.19 on Wednesday. The company has a 50 day moving average of $442.01 and a two-hundred day moving average of $502.21. The company has a market cap of $94.67 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.22 and a beta of 0.83. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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 return on equity of 19.56% and a net margin of 3.68%. Elevance Health’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.99 earnings per share. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

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.