Mill Capital Management LLC Lowers Holdings in Elevance Health, Inc. (NYSE:ELV)

Mill Capital Management LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,142 shares of the company’s stock after selling 91 shares during the quarter. Mill Capital Management LLC’s holdings in Elevance Health were worth $4,411,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Guggenheim reissued a “buy” rating and issued a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Baird R W lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Truist Financial set a $500.00 price objective on Elevance Health and gave the company a “buy” rating in a research report on Monday, June 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Barclays lowered their price target on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a report on Monday, June 2nd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $498.87.

Elevance Health Trading Up 1.1%

NYSE ELV opened at $376.48 on Wednesday. The stock has a market cap of $85.06 billion, a P/E ratio of 14.69, a P/E/G ratio of 0.95 and a beta of 0.60. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The company has a fifty day simple moving average of $396.08 and a two-hundred day simple moving average of $398.93.

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

Elevance Health Announces Dividend

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

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

About Elevance Health

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.