First Eagle Investment Management LLC Sells 41,215 Shares of Elevance Health, Inc. $ELV

First Eagle Investment Management LLC reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,200,146 shares of the company’s stock after selling 41,215 shares during the period. Elevance Health comprises approximately 2.4% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 13th largest position. First Eagle Investment Management LLC’s holdings in Elevance Health were worth $1,244,729,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Private Wealth Management Group LLC boosted its position in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after buying an additional 38 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Elevance Health during the 1st quarter valued at $29,000. Saudi Central Bank acquired a new stake in shares of Elevance Health during the 1st quarter valued at $40,000. Berbice Capital Management LLC bought a new stake in Elevance Health during the 1st quarter worth $43,000. Finally, Glass Jacobson Investment Advisors llc increased its holdings in Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Down 0.9%

Elevance Health stock opened at $315.08 on Friday. The firm has a market cap of $70.02 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a 50 day moving average price of $329.44 and a two-hundred day moving average price of $345.97.

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

Elevance Health Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price target on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. The Goldman Sachs Group started coverage on shares of Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price objective for the company. Weiss Ratings upgraded shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Sanford C. Bernstein decreased their price target on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Finally, 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 note on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $397.33.

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.