Arrowstreet Capital Limited Partnership Sells 164,615 Shares of Elevance Health, Inc. $ELV

Key Points

• Arrowstreet Capital reduced its Elevance Health stake by 10.9% in the fourth quarter, selling 164,615 shares and leaving it with 1,346,989 shares valued at about $472.2 million.
• Elevance Health reported strong quarterly results, posting $12.58 EPS versus the $10.74 estimate and revenue of $49.49 billion, both ahead of analyst expectations.
• The company also declared a quarterly dividend of $1.72 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average target price of $416.11.

Arrowstreet Capital Limited Partnership lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,346,989 shares of the company's stock after selling 164,615 shares during the period. Arrowstreet Capital Limited Partnership owned 0.61% of Elevance Health worth $472,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rossby Financial LCC increased its holdings in shares of Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company's stock worth $28,000 after acquiring an additional 44 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the 4th quarter worth approximately $32,000. ORG Partners LLC increased its holdings in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company's stock worth $38,000 after acquiring an additional 59 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Elevance Health during the 4th quarter worth approximately $38,000. Finally, Dorato Capital Management acquired a new position in shares of Elevance Health during the 4th quarter worth approximately $41,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $403.74 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The stock's fifty day moving average price is $366.62 and its two-hundred day moving average price is $344.86. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $426.98. The firm has a market cap of $87.68 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 2.29 and a beta of 0.67.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period in the prior year, the firm posted $11.97 EPS. The company's revenue for the quarter was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities analysts forecast that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health's dividend payout ratio is currently 29.26%.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company's stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Elevance Health from $352.00 to $404.00 and gave the stock an "equal weight" rating in a report on Thursday, June 4th. Evercore reissued a "hold" rating on shares of Elevance Health in a report on Tuesday, May 19th. Sanford C. Bernstein boosted their target price on Elevance Health from $384.00 to $424.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. UBS Group boosted their target price on Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Finally, Weiss Ratings raised Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 18th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $416.11.

Elevance Health Company Profile

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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