Corient Private Wealth LP Sells 28,940 Shares of Elevance Health, Inc. $ELV

Corient Private Wealth LP reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 41.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,278 shares of the company's stock after selling 28,940 shares during the period. Corient Private Wealth LP's holdings in Elevance Health were worth $15,965,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. WealthCollab LLC increased its holdings in Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Kilter Group LLC bought a new position in shares of Elevance Health during the 2nd quarter worth approximately $28,000. Main Street Group LTD bought a new position in shares of Elevance Health during the 1st quarter worth approximately $39,000. Elevation Wealth Partners LLC grew its position in shares of Elevance Health by 600.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company's stock worth $41,000 after buying an additional 90 shares during the period. Finally, Tacita Capital Inc bought a new stake in shares of Elevance Health in the 2nd quarter valued at $44,000. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of Elevance Health from $411.00 to $476.00 and gave the company an "overweight" rating in a research note on Monday, June 8th. Guggenheim upped their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the company a "buy" rating in a report on Thursday, July 16th. The Goldman Sachs Group reissued a "neutral" rating and set a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a "hold" rating to a "buy" rating and raised their target price for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $440.90.

Elevance Health Stock Down 1.7%

ELV stock opened at $417.13 on Wednesday. The firm has a market capitalization of $90.46 billion, a PE ratio of 18.54, a P/E/G ratio of 2.21 and a beta of 0.69. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The stock's 50 day moving average is $397.37 and its 200-day moving average is $368.28.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health's revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.84 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health's dividend payout ratio (DPR) is currently 30.58%.

Elevance Health Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision 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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.