Focused Investors LLC Sells 12,600 Shares of Elevance Health, Inc. (NYSE:ELV)

Focused Investors LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 505,200 shares of the company's stock after selling 12,600 shares during the period. Elevance Health comprises 7.1% of Focused Investors LLC's portfolio, making the stock its 2nd biggest holding. Focused Investors LLC owned about 0.22% of Elevance Health worth $219,742,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ELV. CIBC Private Wealth Group LLC raised its stake in Elevance Health by 82.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock valued at $276,073,000 after purchasing an additional 326,543 shares during the period. CWA Asset Management Group LLC bought a new stake in Elevance Health during the 1st quarter valued at approximately $299,000. GAMMA Investing LLC raised its stake in Elevance Health by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after purchasing an additional 1,588 shares during the period. Ritholtz Wealth Management raised its stake in Elevance Health by 185.7% during the 1st quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock valued at $1,341,000 after purchasing an additional 2,004 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Elevance Health by 36.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock valued at $11,991,000 after purchasing an additional 7,410 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Guggenheim reissued a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research note on Wednesday, June 4th. Argus set a $465.00 price objective on Elevance Health in a research note on Friday, April 25th. Mizuho lifted their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Barclays reduced their price objective on Elevance Health from $480.00 to $434.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $481.87.

Elevance Health Trading Down 10.8%

ELV traded down $37.31 during trading hours on Thursday, reaching $307.24. 3,560,706 shares of the company's stock traded hands, compared to its average volume of 1,645,536. The firm has a 50-day moving average price of $376.31 and a 200 day moving average price of $396.73. Elevance Health, Inc. has a 52-week low of $297.56 and a 52-week high of $567.26. 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 firm has a market capitalization of $69.41 billion, a PE ratio of 11.98, a PEG ratio of 0.85 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The firm had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. During the same quarter in the prior year, the company posted $10.12 earnings per share. Elevance Health's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio is 26.69%.

Insider Buying and Selling at Elevance Health

In other news, 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 value of $1,949,074.16. Following the completion of the transaction, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.