Elevance Health, Inc. (NYSE:ELV) Shares Sold by Balentine LLC

Balentine LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 69.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 577 shares of the company’s stock after selling 1,328 shares during the quarter. Balentine LLC’s holdings in Elevance Health were worth $313,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ELV. Sanders Capital LLC raised its holdings in Elevance Health by 4.6% in the 4th quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock valued at $2,102,208,000 after acquiring an additional 196,010 shares during the last quarter. Capital International Investors increased its stake in Elevance Health by 3.7% in the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after purchasing an additional 123,802 shares during the last quarter. Norges Bank purchased a new position in Elevance Health during the fourth quarter worth about $1,347,434,000. The Manufacturers Life Insurance Company boosted its stake in Elevance Health by 6.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,863,601 shares of the company’s stock worth $878,800,000 after buying an additional 110,462 shares during the last quarter. Finally, Brave Warrior Advisors LLC grew its holdings in Elevance Health by 7.9% in the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock valued at $828,367,000 after buying an additional 129,055 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ELV. Wells Fargo & Company cut their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. raised their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Royal Bank of Canada boosted their target price on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Truist Financial raised their price target on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, July 15th. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $604.29.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock worth $17,588,116 in the last ninety days. 0.35% of the stock is owned by insiders.

Elevance Health Stock Performance

Elevance Health stock opened at $543.66 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s fifty day moving average price is $533.97 and its 200 day moving average price is $526.95. The company has a market capitalization of $126.07 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. During the same quarter in the previous year, the firm posted $9.04 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared 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 of this dividend is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.20%. Elevance Health’s dividend payout ratio is presently 24.64%.

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.