M&T Bank Corp trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 49.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,782 shares of the company's stock after selling 30,707 shares during the period. M&T Bank Corp's holdings in Elevance Health were worth $16,527,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of ELV. Iridian Asset Management LLC CT raised its position in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company's stock worth $20,360,000 after purchasing an additional 3,786 shares during the period. International Assets Investment Management LLC increased its stake in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock worth $276,972,000 after purchasing an additional 532,016 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock worth $27,858,000 after buying an additional 50,603 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Elevance Health by 5.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company's stock valued at $109,127,000 after buying an additional 9,916 shares in the last quarter. Finally, Seizert Capital Partners LLC boosted its holdings in shares of Elevance Health by 26.3% in the third quarter. Seizert Capital Partners LLC now owns 104,229 shares of the company's stock worth $54,199,000 after buying an additional 21,708 shares during the period. Institutional investors own 89.24% of the company's stock.
In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The stock was 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. The trade was a 46.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.35% of the company's stock.
A number of research firms have recently issued reports on ELV. Wells Fargo & Company cut their price target on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. StockNews.com lowered Elevance Health from a "buy" rating to a "hold" rating in a report on Wednesday. Truist Financial reiterated a "buy" rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a research note on Friday, October 18th. Finally, Cantor Fitzgerald lowered their target price on Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $539.20.
Check Out Our Latest Stock Analysis on Elevance Health
Elevance Health stock opened at $365.96 on Friday. The company has a market capitalization of $84.87 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.15 and a beta of 0.83. The company's fifty day moving average price is $409.70 and its two-hundred day moving average price is $488.69. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.
Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the firm posted $8.99 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, December 5th. Elevance Health's dividend payout ratio is 23.77%.
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.
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