Boston Common Asset Management LLC Sells 4,567 Shares of Elevance Health, Inc. $ELV

Key Points

• Boston Common Asset Management LLC reduced its stake in Elevance Health by 22.5%, selling 4,567 shares, and now owns 15,738 shares valued at approximately $6.12 million.
• CEO Gail Boudreaux recently purchased 8,500 shares at an average price of $286.94, increasing her ownership in the company by 5.96%.
• Elevance Health announced a quarterly dividend of $1.71 per share, representing an annualized yield of 1.9% with a payout ratio of 29.11%.

Boston Common Asset Management LLC cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 22.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,738 shares of the company's stock after selling 4,567 shares during the quarter. Boston Common Asset Management LLC's holdings in Elevance Health were worth $6,121,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC bought a new stake in Elevance Health in the first quarter worth $299,000. Focus Partners Wealth lifted its position in shares of Elevance Health by 4.6% during the first quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock worth $9,764,000 after purchasing an additional 982 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company's stock worth $3,125,000 after purchasing an additional 817 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Elevance Health by 88.1% during the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock worth $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Finally, Asio Capital LLC lifted its position in shares of Elevance Health by 7.1% during the second quarter. Asio Capital LLC now owns 15,371 shares of the company's stock worth $5,979,000 after purchasing an additional 1,015 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Susan D. Devore bought 1,200 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction on Friday, July 18th. The stock was bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the purchase, the chief executive officer directly owned 151,020 shares of the company's stock, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

ELV stock opened at $351.11 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50-day moving average price of $307.98 and a 200 day moving average price of $361.19. The company has a market capitalization of $79.06 billion, a P/E ratio of 14.94, a PEG ratio of 1.28 and a beta of 0.59. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $510.24.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the previous year, the firm earned $10.12 earnings per share. The business's revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, September 10th. Elevance Health's payout ratio is 29.11%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Guggenheim decreased their target price on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Truist Financial decreased their target price on Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Barclays lifted their target price on Elevance Health from $327.00 to $373.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Wells Fargo & Company decreased their price objective on Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Elevance Health in a report on Saturday, September 27th. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $411.06.

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.

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