C WorldWide Group Holding A S Cuts Stock Position in Elevance Health, Inc. (NYSE:ELV)

C WorldWide Group Holding A S lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 70,144 shares of the company’s stock after selling 656 shares during the period. Elevance Health comprises about 0.4% of C WorldWide Group Holding A S’s portfolio, making the stock its 24th biggest holding. C WorldWide Group Holding A S’s holdings in Elevance Health were worth $33,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELV. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the third quarter worth about $25,000. Alaska Permanent Fund Corp purchased a new position in Elevance Health during the 4th quarter valued at approximately $31,000. ORG Partners LLC bought a new stake in Elevance Health in the 4th quarter worth approximately $40,000. Orion Capital Management LLC purchased a new stake in shares of Elevance Health during the 3rd quarter worth approximately $46,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Elevance Health during the 3rd quarter valued at approximately $51,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Down 0.4 %

ELV stock traded down $2.42 during mid-day trading on Friday, reaching $537.26. The company had a trading volume of 700,726 shares, compared to its average volume of 1,135,198. The company has a market capitalization of $124.87 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The firm has a 50 day moving average of $511.89 and a 200 day moving average of $486.40. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the business posted $9.46 EPS. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Activity

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ELV. UBS Group boosted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada upped their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Jefferies Financial Group lifted their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Truist Financial reissued a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $587.42.

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.