Elevance Health, Inc. $ELV Shares Sold by Fisher Funds Management LTD

Key Points

• Fisher Funds Management LTD reduced its Elevance Health stake by 14.5% in the first quarter, selling 3,120 shares and leaving it with 18,372 shares valued at about $5.38 million.
• Elevance Health beat Wall Street expectations in its latest quarterly results, posting EPS of $12.58 versus the $10.74 estimate and revenue of $49.49 billion versus $48.21 billion expected.
• Analyst sentiment remains positive overall, with 14 Buy ratings and 9 Hold ratings; the stock has a Moderate Buy consensus and an average price target of $416.11.

Fisher Funds Management LTD trimmed its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 18,372 shares of the company's stock after selling 3,120 shares during the period. Fisher Funds Management LTD's holdings in Elevance Health were worth $5,378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rossby Financial LCC lifted its stake in shares of Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company's stock valued at $28,000 after purchasing an additional 44 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of Elevance Health during the 4th quarter worth $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health during the 4th quarter worth about $32,000. ORG Partners LLC increased its position in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company's stock worth $38,000 after purchasing an additional 59 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Elevance Health in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ELV shares. Morgan Stanley upped their target price on shares of Elevance Health from $352.00 to $404.00 and gave the company an "equal weight" rating in a research report on Thursday, June 4th. UBS Group lifted their price target 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. Jefferies Financial Group reduced their price target on shares of Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Robert W. Baird upped their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Finally, Evercore reaffirmed a "hold" rating on shares of Elevance Health in a research report on Tuesday, May 19th. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $416.11.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $388.77 on Monday. The stock has a market capitalization of $84.43 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The business has a 50-day moving average of $375.30 and a 200 day moving average of $347.03. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $426.98.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.74 by $1.84. The company had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 26.93 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued a $1.72 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. Elevance Health's payout ratio is 29.26%.

Insiders Place Their Bets

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company'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 transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company's stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

About Elevance Health

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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