Anchor Investment Management LLC Sells 911 Shares of Elevance Health, Inc. $ELV

Key Points

• Anchor Investment Management LLC reduced its stake in Elevance Health by 12.3% in the first quarter, selling 911 shares and holding a total of 6,490 shares valued at $2.82 million.
• During the first quarter, several institutional investors, including Nuveen LLC and Vanguard Group Inc., significantly increased their positions in Elevance Health, with Vanguard now owning over 22 million shares valued at approximately $9.64 billion.
• Elevance Health recently declared a quarterly dividend of $1.71 per share, set to be paid on September 25th, representing an annualized yield of 2.2% and a payout ratio of 29.11%.

Anchor Investment Management LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,490 shares of the company's stock after selling 911 shares during the quarter. Anchor Investment Management LLC's holdings in Elevance Health were worth $2,823,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ELV. Private Wealth Management Group LLC grew its holdings in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC bought a new stake in Elevance Health during the 1st quarter worth about $29,000. Riverview Trust Co grew its holdings in Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after acquiring an additional 67 shares during the last quarter. North Capital Inc. bought a new stake in Elevance Health during the 1st quarter worth about $36,000. Finally, Orion Capital Management LLC bought a new stake in Elevance Health during the 4th quarter worth about $39,000. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

In other news, CEO Gail Boudreaux purchased 8,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the transaction, the chief executive officer directly owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan D. Devore purchased 1,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Elevance Health Trading Down 1.0%

Shares of NYSE:ELV traded down $3.15 during mid-day trading on Friday, reaching $311.74. The stock had a trading volume of 1,503,234 shares, compared to its average volume of 2,082,560. The firm has a market cap of $70.20 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.15 and a beta of 0.59. The firm has a 50 day simple moving average of $306.50 and a two-hundred day simple moving average of $370.70. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $559.95.

Elevance Health (NYSE:ELV - Get Free Report) last announced 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). 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 2.83% and a return on equity of 17.59%. The business's revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.12 earnings per share. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research analyst reports. Morgan Stanley decreased their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Argus restated a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. Royal Bank Of Canada restated an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. Leerink Partners restated a "market perform" rating and set a $310.00 target price (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Finally, Wells Fargo & Company cut their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $411.06.

About Elevance Health

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.