Bellevue Group AG Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

Bellevue Group AG lessened its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 57.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 38,343 shares of the company's stock after selling 50,985 shares during the period. Bellevue Group AG's holdings in Elevance Health were worth $14,145,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Accredited Wealth Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health in the 4th quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in Elevance Health during the fourth quarter worth about $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Stock Up 0.3 %

Elevance Health stock opened at $409.73 on Friday. The company has a market capitalization of $92.57 billion, a P/E ratio of 16.00, a PEG ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a 50-day simple moving average of $422.21 and a 200-day simple moving average of $404.98.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.67%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.

Analysts Set New Price Targets

A number of research firms have issued reports on ELV. Guggenheim reiterated a "buy" rating and set a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Barclays boosted their target price on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Truist Financial upped their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $510.38.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is owned by company insiders.

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.

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