Stanley Laman Group Ltd. Trims Stock Holdings in Elevance Health, Inc. $ELV

Stanley Laman Group Ltd. lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 92.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 666 shares of the company’s stock after selling 7,636 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Elevance Health were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Trexquant Investment LP purchased a new stake in Elevance Health in the 1st quarter worth approximately $764,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Elevance Health by 1.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,359 shares of the company’s stock worth $17,554,000 after purchasing an additional 544 shares during the period. NewEdge Advisors LLC increased its stake in shares of Elevance Health by 22.2% in the first quarter. NewEdge Advisors LLC now owns 13,912 shares of the company’s stock worth $6,051,000 after purchasing an additional 2,531 shares in the last quarter. UniSuper Management Pty Ltd raised its position in shares of Elevance Health by 3.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 15,984 shares of the company’s stock valued at $6,952,000 after purchasing an additional 467 shares during the period. Finally, Teza Capital Management LLC purchased a new position in shares of Elevance Health during the 1st quarter valued at $574,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $363.65 on Tuesday. The company has a market cap of $80.82 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.83 and a beta of 0.51. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The stock’s 50 day simple moving average is $334.79 and its two-hundred day simple moving average is $328.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. During the same period last year, the firm posted $8.37 earnings per share. Elevance Health’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $1.71 dividend. The ex-dividend date was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.9%. Elevance Health’s payout ratio is 27.96%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target for the company. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings downgraded Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, December 29th. Morgan Stanley dropped their price target on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Finally, Robert W. Baird lifted their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Twelve analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $397.21.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.