Schonfeld Strategic Advisors LLC Sells 15,528 Shares of Elevance Health, Inc. (NYSE:ELV)

Schonfeld Strategic Advisors LLC trimmed its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 83.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,048 shares of the company's stock after selling 15,528 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Elevance Health were worth $1,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Elevance Health by 4.5% during the third quarter. Principal Financial Group Inc. now owns 272,649 shares of the company's stock worth $141,777,000 after purchasing an additional 11,646 shares during the period. First County Bank CT acquired a new position in Elevance Health during the fourth quarter worth about $290,000. InvesTrust bought a new stake in Elevance Health in the fourth quarter worth about $649,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Elevance Health by 3.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,166 shares of the company's stock valued at $7,808,000 after acquiring an additional 739 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its position in Elevance Health by 56.3% in the fourth quarter. ST Germain D J Co. Inc. now owns 1,322 shares of the company's stock worth $488,000 after buying an additional 476 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELV has been the subject of several analyst reports. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Guggenheim restated a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Finally, Truist Financial boosted their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average price target of $510.38.

Insider Activity

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction 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 completion of 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. In the last three months, insiders sold 8,535 shares of company stock valued at $3,521,612. Company insiders own 0.29% of the company's stock.

Elevance Health Price Performance

Shares of ELV stock traded down $7.86 during mid-day trading on Friday, reaching $404.52. The stock had a trading volume of 948,113 shares, compared to its average volume of 1,470,007. The company has a market cap of $91.40 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business has a 50-day simple moving average of $424.13 and a 200 day simple moving average of $404.58. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS 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 the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.69%. Elevance Health's dividend payout ratio (DPR) is 26.69%.

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.