Foundations Investment Advisors LLC Sells 1,069 Shares of Elevance Health, Inc. (NYSE:ELV)

Foundations Investment Advisors LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 20.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,107 shares of the company's stock after selling 1,069 shares during the quarter. Foundations Investment Advisors LLC's holdings in Elevance Health were worth $1,786,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Edmond DE Rothschild Holding S.A. boosted its position in Elevance Health by 1.7% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,308 shares of the company's stock valued at $11,181,000 after purchasing an additional 508 shares during the last quarter. National Bank of Canada FI boosted its position in Elevance Health by 848.6% during the fourth quarter. National Bank of Canada FI now owns 250,872 shares of the company's stock valued at $92,550,000 after purchasing an additional 224,425 shares during the last quarter. Geode Capital Management LLC boosted its position in Elevance Health by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after purchasing an additional 115,971 shares during the last quarter. Headlands Technologies LLC boosted its position in Elevance Health by 20.8% during the fourth quarter. Headlands Technologies LLC now owns 5,809 shares of the company's stock valued at $2,143,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 3.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,488,911 shares of the company's stock valued at $918,159,000 after purchasing an additional 91,653 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the subject of a number of analyst reports. Truist Financial reduced their price target 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. Mizuho boosted their price target on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Morgan Stanley cut their price objective on Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. cut their price objective on Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and an average price target of $418.19.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux acquired 8,500 shares of Elevance Health stock in a transaction on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Elevance Health Stock Down 3.2%

Shares of NYSE ELV traded down $8.98 during trading on Friday, hitting $274.10. 3,380,911 shares of the company traded hands, compared to its average volume of 1,939,330. The business's fifty day moving average is $351.82 and its 200 day moving average is $389.87. Elevance Health, Inc. has a fifty-two week low of $273.84 and a fifty-two week high of $567.26. The firm has a market capitalization of $61.72 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.08 and a beta of 0.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data 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 net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the prior year, the company posted $10.12 EPS. Elevance Health's revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

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.