TCW Group Inc. Sells 45,208 Shares of Elevance Health, Inc. (NYSE:ELV)

Key Points

• TCW Group Inc. reduced its stake in Elevation Health by 74.8%, selling 45,208 shares, leaving them with a total of 15,221 shares worth approximately $6.6 million.
• CEO Gail Boudreaux purchased 8,500 shares of Elevance Health at an average price of $286.94, increasing her holdings to 151,020 shares valued at around $43.3 million.
• Analysts have mixed outlooks for Elevance Health, with price targets ranging from $316 to $485, and a current average price target of $418.19.

TCW Group Inc. trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 74.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,221 shares of the company's stock after selling 45,208 shares during the period. TCW Group Inc.'s holdings in Elevance Health were worth $6,621,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ELV. Accredited Wealth Management LLC purchased a new position in Elevance Health in the 4th quarter worth about $25,000. Private Wealth Management Group LLC boosted its position in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after acquiring an additional 38 shares during the period. Riverview Trust Co boosted its position in Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after acquiring an additional 67 shares during the period. North Capital Inc. acquired a new stake in Elevance Health during the 1st quarter worth about $36,000. Finally, Orion Capital Management LLC acquired a new stake in Elevance Health during the 4th quarter worth about $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group restated a "buy" rating and set a $484.00 price objective (down from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Guggenheim decreased their price objective on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Truist Financial decreased their price objective on Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Finally, Barclays decreased their price objective on Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $418.19.

Elevance Health Price Performance

Elevance Health stock traded down $8.44 on Thursday, reaching $285.11. The company's stock had a trading volume of 1,411,485 shares, compared to its average volume of 1,915,967. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $64.20 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.06 and a beta of 0.60. The business's fifty day moving average price is $353.84 and its 200 day moving average price is $390.66. Elevance Health, Inc. has a twelve month low of $274.40 and a twelve month 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 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion during 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 revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.12 EPS. Equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

Insider Activity

In related news, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average price of $286.94 per share, for a total transaction 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 $43,333,678.80. This trade represents a 5.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

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.