Elevance Health, Inc. (NYSE:ELV) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd trimmed its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 381,316 shares of the company's stock after selling 77,017 shares during the quarter. Ninety One UK Ltd owned approximately 0.17% of Elevance Health worth $165,857,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Accredited Wealth Management LLC purchased a new position in Elevance Health in the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the 4th quarter valued at $26,000. OFI Invest Asset Management purchased a new position in Elevance Health in the 4th quarter valued at $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health in the 4th quarter valued at $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in Elevance Health in the 4th quarter valued at $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

Elevance Health Price Performance

ELV stock traded down $5.82 during trading on Friday, hitting $340.04. The stock had a trading volume of 1,698,140 shares, compared to its average volume of 1,631,093. The company's 50 day moving average price is $380.88 and its two-hundred day moving average price is $397.40. Elevance Health, Inc. has a 1-year low of $337.69 and a 1-year high of $567.26. The stock has a market cap of $76.83 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. On average, sell-side analysts forecast 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. Investors of record on Tuesday, June 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.01%. The ex-dividend date was Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ELV. 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. Argus set a $465.00 price objective on shares of Elevance Health in a research report on Friday, April 25th. Guggenheim reiterated a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $495.80.

Elevance Health 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.