Elevance Health, Inc. (NYSE:ELV) Shares Sold by Strategic Advisors LLC

Strategic Advisors LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 19.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 749 shares of the company’s stock after selling 184 shares during the quarter. Strategic Advisors LLC’s holdings in Elevance Health were worth $326,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Elevance Health during the fourth quarter worth approximately $1,135,014,000. Wellington Management Group LLP raised its holdings in Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. GAMMA Investing LLC boosted its stake in Elevance Health by 81,726.5% during the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock valued at $641,355,000 after acquiring an additional 1,472,712 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Elevance Health by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after acquiring an additional 1,039,612 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after acquiring an additional 895,658 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $375.13 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $84.75 billion, a PE ratio of 14.64, a P/E/G ratio of 0.96 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26. The business’s fifty day moving average price is $402.42 and its two-hundred day moving average price is $399.76.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.82%. Elevance Health’s payout ratio is currently 26.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a “buy” rating in a research note on Monday, June 9th. Barclays cut their price objective on Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a research note on Monday, June 2nd. Baird R W downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Robert W. Baird reiterated a “neutral” rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $498.87.

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.