Elevance Health, Inc. $ELV Shares Sold by Newport Trust Company LLC

Key Points

• Newport Trust Company LLC reduced its Elevance Health stake by 1.9% in the fourth quarter, selling 18,997 shares and leaving it with 1,005,020 shares worth about $352.3 million.
• Institutional ownership remains heavy, with 89.24% of Elevance Health shares held by institutions and hedge funds. Several large investors, including Vanguard, Wellington, Artisan Partners, First Eagle, and Invesco, also increased their positions.
• Elevance Health recently beat quarterly earnings and revenue estimates, reporting $12.58 EPS on $49.49 billion in revenue. The company also announced a quarterly dividend of $1.72 per share, yielding about 1.8% annually.

Newport Trust Company LLC trimmed its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,005,020 shares of the company's stock after selling 18,997 shares during the period. Elevance Health comprises approximately 0.8% of Newport Trust Company LLC's holdings, making the stock its 22nd largest holding. Newport Trust Company LLC owned about 0.45% of Elevance Health worth $352,310,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Elevance Health by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company's stock valued at $7,431,322,000 after acquiring an additional 141,747 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Elevance Health by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 6,621,297 shares of the company's stock valued at $2,139,473,000 after acquiring an additional 303,099 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Elevance Health by 24.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company's stock valued at $1,478,857,000 after acquiring an additional 901,626 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Elevance Health by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company's stock valued at $1,410,219,000 after acquiring an additional 24,271 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Elevance Health by 22.9% during the 3rd quarter. Invesco Ltd. now owns 2,597,488 shares of the company's stock valued at $839,300,000 after acquiring an additional 484,303 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELV has been the topic of several research reports. Mizuho upped their price target on Elevance Health from $385.00 to $435.00 and gave the company an "outperform" rating in a research report on Wednesday. Royal Bank Of Canada lowered Elevance Health from an "outperform" rating to a "sector perform" rating and set a $358.00 price target on the stock. in a research report on Tuesday, February 3rd. UBS Group set a $400.00 price target on Elevance Health in a research report on Thursday, January 29th. Evercore reissued a "hold" rating on shares of Elevance Health in a research report on Tuesday. Finally, Guggenheim upped their price target on Elevance Health from $396.00 to $399.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $396.16.

Elevance Health Price Performance

Shares of ELV opened at $389.17 on Friday. The company has a market cap of $84.51 billion, a P/E ratio of 16.55, a PEG ratio of 2.24 and a beta of 0.66. The stock has a fifty day moving average price of $331.71 and a 200 day moving average price of $335.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $408.00.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The company had revenue of $49.49 billion during the quarter, compared to analysts' expectations of $48.21 billion. During the same quarter in the prior year, the business posted $11.97 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, research analysts forecast that Elevance Health, Inc. will post 26.94 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Elevance Health 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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