Elevance Health, Inc. $ELV Shares Sold by Alpine Woods Capital Investors LLC

Key Points

• Alpine Woods Capital Investors cut its Elevance Health stake by 83.2% in the first quarter, selling 3,388 shares and retaining 684 shares valued at approximately $200,000.
• Elevance Health exceeded quarterly expectations, reporting $7.45 in EPS versus the $6.21 consensus and revenue of $49.83 billion. The company also declared a $1.72 quarterly dividend, equivalent to a 1.8% annualized yield.
• Analysts maintain a generally positive view, with 15 Buy ratings and 8 Holds producing a “Moderate Buy” consensus and an average price target of $440.90, above the reported share price of $375.44.

Alpine Woods Capital Investors LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 83.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 684 shares of the company's stock after selling 3,388 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Elevance Health were worth $200,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. WealthCollab LLC increased its stake in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after buying an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Elevance Health during the fourth quarter worth about $38,000. Finally, Main Street Group LTD bought a new position in shares of Elevance Health during the first quarter worth about $39,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of ELV opened at $375.44 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $436.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a fifty day moving average price of $397.01 and a 200 day moving average price of $356.81. The company has a market cap of $81.42 billion, a P/E ratio of 16.69, a PEG ratio of 2.16 and a beta of 0.67.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts' expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $8.84 earnings per share. On average, research analysts forecast that Elevance Health, Inc. will post 27.07 earnings per share for the current 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 $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.8%. Elevance Health's dividend payout ratio is 30.58%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ELV shares. Jefferies Financial Group lowered their price objective on Elevance Health from $395.00 to $391.00 and set a "buy" rating for the company in a report on Monday, April 20th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $395.00 target price on shares of Elevance Health in a report on Thursday, July 16th. Cantor Fitzgerald lifted their target price on Elevance Health from $400.00 to $450.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Barclays lowered their price target on Elevance Health from $480.00 to $457.00 and set an "overweight" rating for the company in a report on Thursday, July 16th. Finally, Evercore reissued a "hold" rating on shares of Elevance Health in a research report on Tuesday, May 19th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $440.90.

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company's stock.

Elevance Health Company Profile

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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