Metis Global Partners LLC Sells 721 Shares of Elevance Health, Inc. (NYSE:ELV)

Metis Global Partners LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 6.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,820 shares of the company’s stock after selling 721 shares during the period. Metis Global Partners LLC’s holdings in Elevance Health were worth $5,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ELV. OFI Invest Asset Management bought a new stake in Elevance Health in the 3rd quarter valued at about $25,000. Alaska Permanent Fund Corp bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $31,000. Hexagon Capital Partners LLC grew its position in Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after buying an additional 29 shares in the last quarter. ORG Partners LLC bought a new position in Elevance Health during the 4th quarter worth $40,000. Finally, Orion Capital Management LLC acquired a new position in Elevance Health in the 3rd quarter valued at $46,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Up 0.3 %

Elevance Health stock traded up $1.35 during mid-day trading on Friday, hitting $526.96. 819,445 shares of the stock were exchanged, compared to its average volume of 1,136,492. The stock has a market capitalization of $122.48 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm’s fifty day simple moving average is $513.54 and its two-hundred day simple moving average is $489.21.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $9.46 earnings per share. Analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ELV shares. Truist Financial restated a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Mizuho lifted their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Barclays upped their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

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.