Elevance Health, Inc. (NYSE:ELV) Shares Sold by Focused Investors LLC

Focused Investors LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 505,200 shares of the company’s stock after selling 12,600 shares during the quarter. Elevance Health makes up 7.1% of Focused Investors LLC’s investment portfolio, making the stock its 2nd largest position. Focused Investors LLC owned about 0.22% of Elevance Health worth $219,742,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ELV. Proficio Capital Partners LLC grew its stake in Elevance Health by 33.5% during the fourth quarter. Proficio Capital Partners LLC now owns 626 shares of the company’s stock worth $231,000 after buying an additional 157 shares during the period. Farther Finance Advisors LLC raised its holdings in Elevance Health by 41.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,157 shares of the company’s stock valued at $796,000 after acquiring an additional 634 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Elevance Health by 3.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 50,579 shares of the company’s stock valued at $18,658,000 after acquiring an additional 1,887 shares in the last quarter. Sovereign Investment Advisors LLC acquired a new stake in Elevance Health in the fourth quarter valued at $279,000. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Elevance Health by 21.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 676 shares of the company’s stock worth $249,000 after purchasing an additional 119 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer owned 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Elevance Health Price Performance

Shares of NYSE ELV opened at $340.04 on Monday. 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 twelve month low of $337.61 and a twelve month high of $567.26. The company has a market capitalization of $76.83 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.87 and a beta of 0.60. The firm has a 50-day moving average of $380.88 and a two-hundred day moving average of $397.73.

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

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ELV. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target 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 research report on Friday, March 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Finally, Mizuho increased their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $495.80.

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.