Axa S.A. Sells 170,546 Shares of Elevance Health, Inc. (NYSE:ELV)

AXA S.A. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 66.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,362 shares of the company's stock after selling 170,546 shares during the period. AXA S.A.'s holdings in Elevance Health were worth $31,121,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Accredited Wealth Management LLC purchased a new stake in Elevance Health in the 4th quarter worth approximately $25,000. Cypress Advisory Group LLC bought a new stake in Elevance Health in the fourth quarter valued at $1,783,000. Mercer Global Advisors Inc. ADV purchased a new position in Elevance Health during the 4th quarter valued at $17,043,000. Keel Point LLC raised its holdings in Elevance Health by 4.5% in the 4th quarter. Keel Point LLC now owns 1,254 shares of the company's stock worth $463,000 after purchasing an additional 54 shares in the last quarter. Finally, Voleon Capital Management LP purchased a new stake in shares of Elevance Health in the 4th quarter worth about $2,668,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $1.70 during trading on Tuesday, reaching $414.60. 1,080,726 shares of the company traded hands, compared to its average volume of 1,467,165. The firm has a 50 day simple moving average of $422.81 and a 200-day simple moving average of $404.59. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market capitalization of $93.67 billion, a PE ratio of 16.19, 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 - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion for 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 anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now 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 quarter, insiders have sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ELV. Barclays raised their price objective on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Guggenheim reissued a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Argus set a $465.00 price target on shares of Elevance Health in a research note on Friday, April 25th. Finally, Mizuho boosted their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $510.38.

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.