C WorldWide Group Holding A S Has $38.90 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

C WorldWide Group Holding A S lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,439 shares of the company's stock after selling 1,944 shares during the quarter. Elevance Health makes up approximately 0.5% of C WorldWide Group Holding A S's investment portfolio, making the stock its 24th largest position. C WorldWide Group Holding A S's holdings in Elevance Health were worth $38,902,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Proficio Capital Partners LLC grew its position in Elevance Health by 33.5% during the fourth quarter. Proficio Capital Partners LLC now owns 626 shares of the company's stock worth $231,000 after buying an additional 157 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in Elevance Health by 21.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 676 shares of the company's stock worth $249,000 after buying an additional 119 shares in the last quarter. Axxcess Wealth Management LLC grew its position in Elevance Health by 48.1% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,509 shares of the company's stock worth $557,000 after buying an additional 490 shares in the last quarter. Advisors Asset Management Inc. grew its position in Elevance Health by 54.1% during the fourth quarter. Advisors Asset Management Inc. now owns 12,912 shares of the company's stock worth $4,763,000 after buying an additional 4,535 shares in the last quarter. Finally, Horizon Investments LLC grew its position in Elevance Health by 1.0% during the fourth quarter. Horizon Investments LLC now owns 3,852 shares of the company's stock worth $1,421,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Activity

In other 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 transaction, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ELV. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. UBS Group reissued a "buy" rating and issued a $484.00 price objective (down from $555.00) on shares of Elevance Health in a research report on Monday. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and an average price target of $446.56.

Elevance Health Price Performance

Shares of ELV stock traded down $16.72 on Friday, reaching $285.73. The company's stock had a trading volume of 1,407,361 shares, compared to its average volume of 1,785,627. The stock's 50 day simple moving average is $374.07 and its 200-day simple moving average is $396.26. Elevance Health, Inc. has a 12-month low of $279.51 and a 12-month 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 market capitalization of $64.55 billion, a P/E ratio of 11.15, a PEG ratio of 0.88 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The firm had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. During the same quarter in the previous year, the business earned $10.12 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.39%. Elevance Health's payout ratio is 26.69%.

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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.