Elevance Health, Inc. (NYSE:ELV) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,788 shares of the company’s stock after selling 4,033 shares during the quarter. Yousif Capital Management LLC’s holdings in Elevance Health were worth $19,706,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. abrdn plc increased its position in Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after purchasing an additional 129,364 shares during the period. Cerity Partners LLC raised its position in Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after acquiring an additional 9,199 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Elevance Health in the fourth quarter valued at $218,000. Chicago Capital LLC lifted its holdings in Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after acquiring an additional 4,986 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Elevance Health during the 4th quarter worth $2,235,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of NYSE ELV traded up $0.70 during trading on Tuesday, reaching $532.92. The company had a trading volume of 796,340 shares, compared to its average volume of 1,066,078. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $539.11. The stock has a 50-day moving average price of $510.23 and a two-hundred day moving average price of $485.10. The stock has a market capitalization of $123.86 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the previous year, the company posted $9.46 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Wells Fargo & Company lifted their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday. Truist Financial reissued a “buy” rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research note on Friday. Jefferies Financial Group raised their price objective on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday. Finally, StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $587.64.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health Profile

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.