GCM Grosvenor Holdings LLC Trims Stake in Elevance Health, Inc. (NYSE:ELV)

GCM Grosvenor Holdings LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 39,942 shares of the company’s stock after selling 1,760 shares during the quarter. Elevance Health accounts for 2.1% of GCM Grosvenor Holdings LLC’s portfolio, making the stock its 11th largest position. GCM Grosvenor Holdings LLC’s holdings in Elevance Health were worth $14,735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tobam boosted its stake in Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after buying an additional 27 shares during the last quarter. Jacobi Capital Management LLC increased its position in shares of Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after acquiring an additional 27 shares during the last quarter. Austin Private Wealth LLC raised its holdings in Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after acquiring an additional 29 shares in the last quarter. Quent Capital LLC grew its stake in Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after buying an additional 30 shares during the last quarter. Finally, RDA Financial Network increased its holdings in shares of Elevance Health by 0.5% in the 4th quarter. RDA Financial Network now owns 6,384 shares of the company’s stock worth $2,355,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV stock opened at $413.01 on Friday. The firm has a 50 day moving average of $424.00 and a two-hundred day moving average of $404.69. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a market capitalization of $93.31 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.18 and a beta of 0.66. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.66%. Elevance Health’s payout ratio is presently 26.69%.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 in the last quarter. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ELV has been the topic of a number of research analyst reports. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Baird R W lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Guggenheim restated a “buy” rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $478.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Argus set a $465.00 price target on shares of Elevance Health in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $510.38.

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.