Burling Wealth Partners LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 53.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,528 shares of the company's stock after selling 4,012 shares during the quarter. Burling Wealth Partners LLC's holdings in Elevance Health were worth $1,535,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the business. Milestone Asset Management LLC increased its position in shares of Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after buying an additional 24 shares in the last quarter. Elser Financial Planning Inc increased its position in shares of Elevance Health by 3.0% in the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after buying an additional 26 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of Elevance Health by 1.0% in the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after buying an additional 27 shares in the last quarter. Prudent Man Advisors LLC increased its position in shares of Elevance Health by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company's stock valued at $547,000 after buying an additional 28 shares in the last quarter. Finally, Barlow Wealth Partners Inc. increased its position in shares of Elevance Health by 1.3% in the first quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock valued at $961,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Barclays decreased their price objective on Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a research note on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, UBS Group reaffirmed a "buy" rating and set a $484.00 price objective (down previously from $555.00) on shares of Elevance Health in a research note on Monday. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $441.81.
Check Out Our Latest Research Report on ELV
Elevance Health Trading Down 8.5%
Shares of NYSE ELV traded down $25.58 during midday trading on Friday, hitting $276.87. The stock had a trading volume of 8,379,827 shares, compared to its average volume of 1,676,997. The company has a market capitalization of $62.55 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $276.57 and a 1-year 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. The company has a fifty day moving average price of $374.07 and a 200 day moving average price of $396.26.
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). The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $10.12 earnings per share. On average, analysts predict 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 will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is currently 26.69%.
Insider Activity
In related news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gail Boudreaux bought 8,500 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.
Elevance Health 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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