Compound Global Advisors LLC Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Compound Global Advisors LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 68.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 984 shares of the company's stock after selling 2,100 shares during the period. Elevance Health accounts for approximately 2.3% of Compound Global Advisors LLC's investment portfolio, making the stock its 17th biggest position. Compound Global Advisors LLC's holdings in Elevance Health were worth $391,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ELV. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health during the 4th quarter worth $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the fourth quarter worth about $26,000. Riverview Trust Co boosted its holdings in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after purchasing an additional 67 shares during the last quarter. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Ratings Changes

ELV has been the topic of several research analyst reports. Robert W. Baird restated a "neutral" rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Argus set a $465.00 price target on shares of Elevance Health in a research note on Friday, April 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Finally, Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $498.87.

Elevance Health Stock Down 0.4%

Shares of ELV stock traded down $1.33 on Thursday, reaching $348.92. 2,006,213 shares of the stock were exchanged, compared to its average volume of 1,607,108. Elevance Health, Inc. has a twelve month low of $347.37 and a twelve month high of $567.26. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $78.83 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.89 and a beta of 0.60. The business's 50 day moving average price is $389.10 and its 200 day moving average price is $398.31.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

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.