Elevance Health, Inc. $ELV Shares Sold by Firetrail Investments PTY Ltd.

Firetrail Investments PTY Ltd. decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,560 shares of the company’s stock after selling 744 shares during the period. Elevance Health accounts for 2.7% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 20th largest position. Firetrail Investments PTY Ltd.’s holdings in Elevance Health were worth $10,293,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after purchasing an additional 666,534 shares during the last quarter. Orbis Allan Gray Ltd increased its position in Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after purchasing an additional 680,228 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Elevance Health by 13.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after purchasing an additional 324,040 shares during the last quarter. Invesco Ltd. increased its position in Elevance Health by 1.2% during the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock worth $920,501,000 after purchasing an additional 24,833 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Elevance Health by 1.5% during the first quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock worth $845,394,000 after purchasing an additional 29,174 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Leerink Partners reaffirmed a “market perform” rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. UBS Group dropped their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. The Goldman Sachs Group started coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price objective for the company. Finally, Cowen reissued a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $398.44.

Elevance Health Price Performance

Shares of ELV stock opened at $317.05 on Friday. The company has a market capitalization of $70.46 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59. The firm has a fifty day simple moving average of $329.07 and a 200-day simple moving average of $348.54. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.37 earnings per share. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. Elevance Health’s dividend payout ratio is 27.96%.

Insider Buying and Selling at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.