Perbak Capital Partners LLP Sells 5,018 Shares of Elevance Health, Inc. (NYSE:ELV)

Perbak Capital Partners LLP cut its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 87.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 726 shares of the company's stock after selling 5,018 shares during the quarter. Perbak Capital Partners LLP's holdings in Elevance Health were worth $268,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new stake in Elevance Health in the fourth quarter worth $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the 4th quarter worth about $29,000. WealthTrak Capital Management LLC acquired a new position in shares of Elevance Health during the 4th quarter valued at about $29,000. Lee Danner & Bass Inc. bought a new position in shares of Elevance Health in the 4th quarter valued at approximately $30,000. Finally, Crews Bank & Trust acquired a new stake in Elevance Health in the 4th quarter worth approximately $34,000. 89.24% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value 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 $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 over the last three months. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on ELV shares. Guggenheim reiterated a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Robert W. Baird reiterated a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Truist Financial boosted their price objective on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $510.38.

Elevance Health Price Performance

Shares of ELV stock traded up $1.42 during mid-day trading on Friday, reaching $409.73. The company's stock had a trading volume of 1,048,495 shares, compared to its average volume of 1,464,259. The firm's 50-day moving average is $422.07 and its two-hundred day moving average is $406.13. The company has a market cap of $92.57 billion, a P/E ratio of 16.00, a PEG ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. 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 (NYSE:ELV - Get Free Report) 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. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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

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.