Bessemer Securities LLC Sells 125 Shares of Elevance Health, Inc. (NYSE:ELV)

Bessemer Securities LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,337 shares of the company’s stock after selling 125 shares during the period. Bessemer Securities LLC’s holdings in Elevance Health were worth $594,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Elevance Health by 97,501.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 83,475,802 shares of the company’s stock worth $37,087,464,000 after acquiring an additional 83,390,275 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Elevance Health by 844.0% in the first quarter. Envestnet Asset Management Inc. now owns 2,966,205 shares of the company’s stock worth $148,413,000 after acquiring an additional 2,651,986 shares during the last quarter. Norges Bank bought a new position in shares of Elevance Health in the fourth quarter worth about $1,253,211,000. Legal & General Group Plc bought a new position in shares of Elevance Health in the fourth quarter worth about $944,528,000. Finally, Moneta Group Investment Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter worth about $664,077,000. 87.80% of the stock is owned by institutional investors.

Elevance Health Stock Up 0.5 %

Shares of NYSE ELV opened at $465.37 on Tuesday. The stock has a market cap of $109.34 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.15 and a beta of 0.84. The firm has a 50 day moving average price of $451.18 and a 200 day moving average price of $453.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.41 and a current ratio of 1.41. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $544.01.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, October 18th. The company reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.45 by $0.54. The firm had revenue of $42.48 billion during the quarter, compared to analysts’ expectations of $42.69 billion. Elevance Health had a net margin of 3.61% and a return on equity of 20.71%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.53 earnings per share. Analysts expect that Elevance Health, Inc. will post 33.07 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Wednesday, December 6th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Tuesday, December 5th. Elevance Health’s dividend payout ratio is currently 23.24%.

Insider Activity at Elevance Health

In related news, CAO Ronald W. Penczek sold 64 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $454.35, for a total transaction of $29,078.40. Following the completion of the transaction, the chief accounting officer now owns 2,842 shares in the company, valued at $1,291,262.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $547.00 target price on shares of Elevance Health in a research note on Thursday, October 19th. StockNews.com initiated coverage on shares of Elevance Health in a research note on Thursday, October 5th. They issued a “strong-buy” rating for the company. Morgan Stanley boosted their target price on shares of Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. TD Cowen lifted their price target on shares of Elevance Health from $564.00 to $585.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $565.82.

Elevance Health Profile

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.