Elevance Health, Inc. $ELV Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. cut its position in Elevance Health, Inc. (NYSE:ELV) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 84,600 shares of the company’s stock after selling 2,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Elevance Health were worth $32,906,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Wealth Management Group LLC grew its holdings in Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after acquiring an additional 38 shares during the period. WPG Advisers LLC acquired a new stake in Elevance Health during the first quarter worth about $29,000. Riverview Trust Co grew its holdings in Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after acquiring an additional 67 shares during the period. North Capital Inc. acquired a new stake in Elevance Health during the first quarter worth about $36,000. Finally, Saudi Central Bank acquired a new stake in Elevance Health during the first quarter worth about $40,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $308.19 on Thursday. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $544.60. The company has a market cap of $69.40 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.14 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The business’s 50 day moving average price is $304.16 and its 200 day moving average price is $368.97.

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

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.2%. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

Wall Street Analyst Weigh In

Several research firms recently commented on ELV. JPMorgan Chase & Co. dropped their target price on Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Morgan Stanley dropped their target price on Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Barclays raised their price objective on Elevance Health from $327.00 to $373.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. UBS Group dropped their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Finally, 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. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $411.06.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of the business’s stock in a transaction on Friday, July 18th. The stock was bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% 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.

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.