Intech Investment Management LLC Sells 46,587 Shares of Elevance Health, Inc. (NYSE:ELV)

Intech Investment Management LLC decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 72.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,680 shares of the company’s stock after selling 46,587 shares during the quarter. Intech Investment Management LLC’s holdings in Elevance Health were worth $9,168,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ELV. Dynamic Advisor Solutions LLC boosted its stake in Elevance Health by 8.0% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,450 shares of the company’s stock valued at $2,136,000 after buying an additional 328 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Elevance Health by 1.1% in the 4th quarter. Raymond James Trust N.A. now owns 5,245 shares of the company’s stock valued at $2,473,000 after buying an additional 55 shares in the last quarter. Vest Financial LLC boosted its stake in Elevance Health by 33.5% in the 4th quarter. Vest Financial LLC now owns 27,784 shares of the company’s stock valued at $13,102,000 after buying an additional 6,970 shares in the last quarter. OneAscent Financial Services LLC boosted its stake in Elevance Health by 8.9% in the 4th quarter. OneAscent Financial Services LLC now owns 931 shares of the company’s stock valued at $439,000 after buying an additional 76 shares in the last quarter. Finally, Brookstone Capital Management boosted its stake in Elevance Health by 6.8% in the 4th quarter. Brookstone Capital Management now owns 1,608 shares of the company’s stock valued at $758,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.9 %

NYSE ELV traded down $4.60 on Friday, reaching $500.12. The company had a trading volume of 1,290,483 shares, compared to its average volume of 1,179,336. The stock’s 50 day moving average is $533.12 and its 200-day moving average is $515.00. The stock has a market cap of $115.97 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.10 and a beta of 0.84. The company has a quick ratio of 1.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 52 week low of $431.38 and a 52 week high of $555.35.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.04 earnings per share. Equities analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.30%. Elevance Health’s dividend payout ratio is presently 24.64%.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Robert W. Baird assumed coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Finally, Bank of America reissued a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research note on Thursday. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $604.79.

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.