Bessemer Group Inc. cut its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,727 shares of the company's stock after selling 8,023 shares during the period. Bessemer Group Inc. owned about 0.06% of Elevance Health worth $60,341,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter valued at $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health in the fourth quarter valued at $29,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health in the fourth quarter valued at $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were 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 $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.
Elevance Health Stock Performance
Shares of Elevance Health stock traded up $8.07 during trading on Friday, reaching $381.25. The company's stock had a trading volume of 1,774,243 shares, compared to its average volume of 1,581,942. The business's 50-day moving average price is $392.98 and its 200-day moving average price is $398.78. The firm has a market cap of $86.14 billion, a PE ratio of 14.88, a P/E/G ratio of 0.97 and a beta of 0.60. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66.
Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (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 analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.
Elevance Health Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.79%. Elevance Health's payout ratio is presently 26.69%.
Wall Street Analyst Weigh In
ELV has been the subject of several analyst reports. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. 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, June 4th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Argus set a $465.00 price objective on shares of Elevance Health in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $498.87.
View Our Latest Stock Report on ELV
Elevance Health Company Profile
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Free Report)
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.
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