Elevance Health, Inc. $ELV Shares Sold by BDF Gestion

Key Points

• BDF Gestion reduced its stake in Elevance Health by 9.8%, leaving it with 8,596 shares valued at approximately $3.34 million, according to its latest SEC filing.
• Elevance Health reported a quarterly revenue of $49.42 billion, exceeding expectations, but earnings per share of $8.84 fell short of the anticipated $9.30.
• The company's recent dividend announcement includes a payment of $1.71 per share, showing a 2.2% dividend yield with a payout ratio of 29.11%.

BDF Gestion cut its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,596 shares of the company's stock after selling 938 shares during the period. BDF Gestion's holdings in Elevance Health were worth $3,344,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock valued at $9,635,281,000 after buying an additional 666,534 shares during the period. Orbis Allan Gray Ltd lifted its position in shares of Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company's stock worth $1,239,276,000 after purchasing an additional 680,228 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Elevance Health by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company's stock valued at $1,164,041,000 after purchasing an additional 324,040 shares during the period. Invesco Ltd. increased its stake in Elevance Health by 1.2% during the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company's stock worth $920,501,000 after buying an additional 24,833 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Elevance Health by 1.5% in the first quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company's stock worth $845,394,000 after acquiring an additional 29,174 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

ELV stock opened at $313.90 on Friday. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $542.22. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $70.68 billion, a P/E ratio of 13.36, a PEG ratio of 1.16 and a beta of 0.59. The business has a 50 day simple moving average of $303.03 and a 200-day simple moving average of $367.83.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. During the same period in the previous year, the company posted $10.12 earnings per share. Elevance Health's quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ELV shares. Barclays lifted their target price on Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Argus reiterated a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. JPMorgan Chase & Co. lowered their price objective on Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Robert W. Baird reduced their target price on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Finally, Truist Financial lowered their price target on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and an average price target of $411.06.

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.

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.