Perbak Capital Partners LLP Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Perbak Capital Partners LLP reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 87.4% during the fourth quarter, HoldingsChannel reports. The firm owned 726 shares of the company’s stock after selling 5,018 shares during the period. Perbak Capital Partners LLP’s holdings in Elevance Health were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ELV. Virtu Financial LLC purchased a new stake in shares of Elevance Health during the 3rd quarter valued at about $2,828,000. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Elevance Health by 39.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company’s stock valued at $5,433,000 after acquiring an additional 2,983 shares during the last quarter. Tudor Financial Inc. bought a new stake in Elevance Health in the third quarter worth $235,000. Anchor Investment Management LLC boosted its holdings in Elevance Health by 22.9% during the 3rd quarter. Anchor Investment Management LLC now owns 6,098 shares of the company’s stock valued at $3,171,000 after acquiring an additional 1,135 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of Elevance Health during the third quarter valued at approximately $8,855,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ELV. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Mizuho lifted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Barclays upped their price target on Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $510.38.

Elevance Health Stock Performance

ELV opened at $413.41 on Tuesday. The business’s 50-day moving average price is $420.43 and its two-hundred day moving average price is $406.68. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a market capitalization of $93.40 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio is 26.69%.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,535 shares of company stock worth $3,521,612. Corporate insiders own 0.29% of the company’s stock.

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.