Jefferies Financial Group Inc. trimmed its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 76.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,278 shares of the company's stock after selling 17,057 shares during the period. Jefferies Financial Group Inc.'s holdings in Elevance Health were worth $2,296,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. CWA Asset Management Group LLC acquired a new position in shares of Elevance Health in the 1st quarter valued at approximately $299,000. GAMMA Investing LLC raised its position in shares of Elevance Health by 88.1% in 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 in the last quarter. Ritholtz Wealth Management raised its position in shares of Elevance Health by 185.7% in 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 in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Elevance Health by 15.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,717 shares of the company's stock valued at $2,922,000 after purchasing an additional 913 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Elevance Health by 36.8% in 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 in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Wells Fargo & Company dropped their price target on Elevance Health from $478.00 to $400.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Guggenheim dropped their price target on Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Robert W. Baird dropped their price target on Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Finally, Truist Financial dropped their price target on Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $418.19.
Read Our Latest Report on Elevance Health
Insider Buying and Selling at Elevance Health
In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of the company's stock in a transaction dated Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer directly owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.
Elevance Health Price Performance
NYSE ELV opened at $274.10 on Monday. The stock's 50-day moving average price is $349.86 and its two-hundred day moving average price is $389.08. 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 company has a market cap of $61.72 billion, a PE ratio of 11.66, a PEG ratio of 1.01 and a beta of 0.58. Elevance Health, Inc. has a 1 year low of $273.84 and a 1 year high of $567.26.
Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. Elevance Health's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.12 EPS. On average, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.
Elevance Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.5%. Elevance Health's dividend payout ratio is currently 29.11%.
Elevance Health Company Profile
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Free Report)
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.
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