Brave Warrior Advisors LLC Decreases Stake in Elevance Health, Inc. $ELV

Key Points

• Brave Warrior Advisors LLC reduced its stake in Elevance Health by 3.2%, now holding 1,577,570 shares, which represents about 15.7% of its investment portfolio.
• Elevance Health reported $8.84 earnings per share for the last quarter, missing expectations, but its revenue reached $49.42 billion, up 14.3% from the previous year.
• The company has declared a quarterly dividend of $1.71 per share, scheduled for payment on September 25th, reflecting an annual yield of 2.1%.

Brave Warrior Advisors LLC reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,577,570 shares of the company's stock after selling 52,407 shares during the quarter. Elevance Health accounts for about 15.7% of Brave Warrior Advisors LLC's holdings, making the stock its biggest position. Brave Warrior Advisors LLC owned approximately 0.70% of Elevance Health worth $686,180,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Private Wealth Management Group LLC grew its holdings in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after buying an additional 38 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at about $25,000. WPG Advisers LLC acquired a new position in shares of Elevance Health during the first quarter valued at about $29,000. Riverview Trust Co grew its holdings in shares of Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after buying an additional 67 shares during the last quarter. Finally, North Capital Inc. acquired a new position in shares of Elevance Health during the first quarter valued at about $36,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of NYSE ELV traded up $5.74 during midday trading on Friday, hitting $313.79. The company's stock had a trading volume of 1,861,540 shares, compared to its average volume of 2,037,073. The stock has a fifty day moving average price of $312.04 and a 200 day moving average price of $373.45. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $559.95. 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 firm has a market capitalization of $70.66 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.13 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $48.26 billion. During the same period last year, the firm earned $10.12 EPS. The business's revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a $1.71 dividend. 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 payout ratio is 29.11%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ELV. Wall Street Zen cut shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Morgan Stanley dropped their price target on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Truist Financial dropped their price target on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, Argus reissued a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $411.06.

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction dated Friday, July 18th. The shares were bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade 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 purchased 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director owned 3,502 shares of the company's stock, valued at approximately $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. Insiders own 0.29% of the company's stock.

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.