Bryn Mawr Capital Management LLC Sells 904 Shares of Elevance Health, Inc. (NYSE:ELV)

Bryn Mawr Capital Management LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 40.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,339 shares of the company's stock after selling 904 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in Elevance Health were worth $582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth approximately $25,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth approximately $26,000. Riverview Trust Co boosted 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 worth $31,000 after purchasing an additional 67 shares during the period. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health during the fourth quarter worth approximately $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on ELV shares. Truist Financial decreased 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. Robert W. Baird restated a "neutral" rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Mizuho raised their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Finally, Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus target price of $441.81.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $25.58 during trading on Friday, reaching $276.87. The stock had a trading volume of 8,377,034 shares, compared to its average volume of 1,841,138. Elevance Health, Inc. has a 52 week low of $276.41 and a 52 week high of $567.26. The firm has a market capitalization of $62.55 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 0.88 and a beta of 0.60. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $374.07 and a two-hundred day simple moving average of $396.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly 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 3.23% and a return on equity of 18.61%. The firm had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same period in the prior year, the business earned $10.12 EPS. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Insiders Place Their Bets

In related news, CEO Gail Boudreaux bought 8,500 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were acquired 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 owned 151,020 shares of the company's stock, valued at $43,333,678.80. The trade was a 5.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Elevance Health Company 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.