Elevance Health, Inc. (NYSE:ELV) Shares Sold by CenterBook Partners LP

CenterBook Partners LP decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 92.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,822 shares of the company's stock after selling 33,890 shares during the period. CenterBook Partners LP's holdings in Elevance Health were worth $1,227,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ELV. Chicago Partners Investment Group LLC bought a new position in Elevance Health in the first quarter valued at $263,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Elevance Health by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,782,653 shares of the company's stock worth $775,383,000 after buying an additional 109,628 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in shares of Elevance Health during the 1st quarter worth about $11,260,000. Strategy Asset Managers LLC raised its stake in Elevance Health by 2.1% in the 1st quarter. Strategy Asset Managers LLC now owns 5,858 shares of the company's stock worth $2,548,000 after purchasing an additional 118 shares in the last quarter. Finally, Hemington Wealth Management raised its stake in Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company's stock worth $100,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 8.5%

Shares of NYSE ELV traded down $25.58 during trading hours on Friday, hitting $276.87. 8,379,827 shares of the company traded hands, compared to its average volume of 1,676,997. The stock has a market capitalization of $62.55 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The company's 50 day moving average price is $374.07 and its 200 day moving average price is $396.26. Elevance Health, Inc. has a 12 month low of $276.57 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to the consensus estimate 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 was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $10.12 EPS. On average, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Morgan Stanley dropped their target price on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research report on Friday. Leerink Partners restated a "market perform" rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a research note on Friday. UBS Group reiterated a "buy" rating and issued a $484.00 target price (down previously from $555.00) on shares of Elevance Health in a research note on Monday. Finally, Argus set a $465.00 price objective on shares of Elevance Health in a report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $441.81.

Insider Transactions at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares of the company's stock, valued at $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.