Elevance Health, Inc. $ELV Stock Holdings Lessened by Pacific Capital Partners Ltd

Pacific Capital Partners Ltd trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 48.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,500 shares of the company’s stock after selling 6,000 shares during the quarter. Elevance Health accounts for 2.4% of Pacific Capital Partners Ltd’s portfolio, making the stock its 16th largest position. Pacific Capital Partners Ltd’s holdings in Elevance Health were worth $2,528,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ELV. Private Wealth Management Group LLC lifted its position in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. WPG Advisers LLC bought a new position in Elevance Health during the first quarter valued at approximately $29,000. Riverview Trust Co raised its position in Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock valued at $31,000 after acquiring an additional 67 shares in the last quarter. North Capital Inc. bought a new position in Elevance Health during the first quarter valued at approximately $36,000. Finally, Orion Capital Management LLC bought a new position in Elevance Health during the fourth quarter valued at approximately $39,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Leerink Partners reaffirmed a “market perform” rating and set a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Truist Financial cut their price objective on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Wells Fargo & Company dropped their price target on shares of Elevance Health from $400.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. JPMorgan Chase & Co. dropped their price target on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 22nd. Finally, UBS Group dropped their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $411.06.

Insider Buying and Selling at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gail Boudreaux bought 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health Trading Down 1.0%

Shares of Elevance Health stock opened at $311.74 on Friday. The company’s fifty day simple moving average is $306.50 and its 200-day simple moving average is $370.59. The company has a market cap of $70.20 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.15 and a beta of 0.59. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $559.95.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.12 EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

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. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

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.