Mawer Investment Management Ltd. Sells 18,002 Shares of Elevance Health, Inc. $ELV

Mawer Investment Management Ltd. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 9.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,291 shares of the company’s stock after selling 18,002 shares during the period. Mawer Investment Management Ltd.’s holdings in Elevance Health were worth $65,824,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ELV. BlackRock Inc. purchased a new stake in Elevance Health in the 2nd quarter valued at approximately $7,344,424,000. Bank of New York Mellon Corp purchased a new position in shares of Elevance Health during the 2nd quarter worth approximately $1,246,349,000. Legal & General Group Plc purchased a new position in shares of Elevance Health during the 2nd quarter worth approximately $688,469,000. Amundi raised its stake in shares of Elevance Health by 145.7% during the 1st quarter. Amundi now owns 2,693,664 shares of the company’s stock worth $788,570,000 after buying an additional 1,597,497 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Elevance Health in the 2nd quarter valued at approximately $591,084,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price target on Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research note on Thursday, October 22nd. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Mizuho set a $490.00 price objective on Elevance Health in a research report on Friday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a report on Wednesday. Finally, UBS Group boosted their target price on shares of Elevance Health from $460.00 to $523.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $456.48.

Insider Buying and Selling at Elevance Health

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

Elevance Health Price Performance

Elevance Health stock traded down $0.40 during mid-day trading on Friday, reaching $429.50. The company had a trading volume of 779,067 shares, compared to its average volume of 1,383,342. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $450.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market capitalization of $92.80 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.05 and a beta of 0.63. The stock’s 50-day simple moving average is $415.40 and its 200-day simple moving average is $375.20.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. The company had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm earned $6.03 EPS. On average, equities analysts predict that Elevance Health, Inc. will post 29.15 EPS for the current year.

Elevance Health Dividend Announcement

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

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.