Elevance Health, Inc. (NYSE:ELV) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,082 shares of the company's stock after selling 750 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Elevance Health were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. CIBC Private Wealth Group LLC boosted its stake in Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock valued at $276,073,000 after acquiring an additional 326,543 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Elevance Health in the 1st quarter valued at about $299,000. GAMMA Investing LLC grew its stake in Elevance Health by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock worth $1,475,000 after buying an additional 1,588 shares during the last quarter. Ritholtz Wealth Management grew its stake in Elevance Health by 185.7% during the 1st quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock worth $1,341,000 after buying an additional 2,004 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Elevance Health by 36.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock worth $11,991,000 after buying an additional 7,410 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

ELV stock traded down $5.82 on Friday, reaching $340.04. The company had a trading volume of 1,698,140 shares, compared to its average volume of 1,633,788. The company's fifty day moving average is $380.88 and its 200 day moving average is $397.73. The company has a market cap of $76.83 billion, a P/E ratio of 13.27, a PEG ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. Elevance Health, Inc. has a 1 year low of $337.61 and a 1 year high of $567.26.

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 (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

Insider Activity at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ELV. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Barclays decreased their target price on shares of Elevance Health from $480.00 to $434.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Argus set a $465.00 price target on Elevance Health in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $495.80.

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.