Elevance Health, Inc. (NYSE:ELV) Shares Sold by Man Group plc

Man Group plc reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 65.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,480 shares of the company’s stock after selling 122,922 shares during the period. Man Group plc’s holdings in Elevance Health were worth $23,418,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Accredited Wealth Management LLC acquired a new stake in Elevance Health during the fourth quarter worth approximately $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 4th quarter worth $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the fourth quarter worth $29,000. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Elevance Health in the fourth quarter valued at $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on ELV shares. Baird R W lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Robert W. Baird reaffirmed a “neutral” rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.38.

Insider Transactions at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health 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 in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,535 shares of company stock valued at $3,521,612. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Trading Up 4.0%

Shares of ELV opened at $389.42 on Friday. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The stock’s 50-day moving average is $422.87 and its two-hundred day moving average is $403.76. 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 stock has a market cap of $87.98 billion, a PE ratio of 15.21, a P/E/G ratio of 1.18 and a beta of 0.66.

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

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.76%. Elevance Health’s payout ratio is currently 26.69%.

Elevance Health Company 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.