Elevance Health, Inc. (NYSE:ELV) Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI decreased its holdings in Elevance Health, Inc. by 19.6%, selling 49,145 shares and leaving it with 201,727 shares valued at approximately $87.7 million.
• Elevance Health reported $8.84 earnings per share in its latest earnings announcement, missing the consensus estimate of $9.30, while its revenue increased by 14.3% year-over-year.
• The company declared a $1.71 quarterly dividend, which will be paid to investors on September 25th, representing an annualized dividend yield of 2.3%.

National Bank of Canada FI reduced its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 19.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 201,727 shares of the company's stock after selling 49,145 shares during the period. National Bank of Canada FI owned about 0.09% of Elevance Health worth $87,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. GAMMA Investing LLC grew its stake in Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after acquiring an additional 1,472,712 shares during the period. D1 Capital Partners L.P. purchased a new stake in Elevance Health in the 4th quarter worth approximately $294,751,000. Vanguard Group Inc. grew its stake in shares of Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock valued at $9,635,281,000 after buying an additional 666,534 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after buying an additional 464,137 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Elevance Health by 48.7% during the 4th quarter. First Trust Advisors LP now owns 1,267,396 shares of the company's stock valued at $467,542,000 after buying an additional 414,989 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ELV. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Guggenheim lowered their price objective on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Morgan Stanley lowered their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Finally, Leerink Partners reissued a "market perform" rating and set a $310.00 price objective (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target of $418.19.

Insider Transactions at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of the company's stock in a transaction on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Down 1.1%

ELV stock traded down $3.19 during trading on Monday, reaching $290.80. The stock had a trading volume of 1,650,155 shares, compared to its average volume of 3,341,940. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $567.26. 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 capitalization of $65.48 billion, a P/E ratio of 8.90, a PEG ratio of 1.08 and a beta of 0.58. The firm has a fifty day moving average price of $340.17 and a 200 day moving average price of $385.28.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $10.12 EPS. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.4%. Elevance Health's dividend payout ratio (DPR) is 29.11%.

About Elevance Health

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.