Venture Visionary Partners LLC Cuts Holdings in Elevance Health, Inc. $ELV

Venture Visionary Partners LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 51.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 637 shares of the company’s stock after selling 669 shares during the quarter. Venture Visionary Partners LLC’s holdings in Elevance Health were worth $277,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after purchasing an additional 666,534 shares during the period. Northern Trust Corp increased its holdings in shares of Elevance Health by 16.5% in the 4th quarter. Northern Trust Corp now owns 2,449,028 shares of the company’s stock valued at $903,446,000 after acquiring an additional 346,557 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Elevance Health by 9.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,352,163 shares of the company’s stock valued at $867,713,000 after acquiring an additional 199,550 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Elevance Health by 1.2% in the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after acquiring an additional 24,833 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Elevance Health in the 1st quarter valued at about $789,943,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gail Boudreaux acquired 8,500 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares of the company’s stock, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan D. Devore acquired 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Down 0.2%

Shares of NYSE ELV opened at $309.4460 on Friday. The stock has a market cap of $69.68 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.58. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $567.26. The business has a 50-day moving average price of $325.56 and a 200 day moving average price of $379.31.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $10.12 earnings per share. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health’s dividend payout ratio is 29.11%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Elevance Health from $434.00 to $358.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Wells Fargo & Company dropped their price objective on Elevance Health from $400.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, August 15th. Robert W. Baird dropped their price objective on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. Morgan Stanley dropped their price objective on Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $413.81.

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.