Geode Capital Management LLC Sells 19,305 Shares of Elevance Health, Inc. $ELV

Key Points

• Geode Capital Management trimmed its Elevance Health stake by 19,305 shares in the fourth quarter, but still held more than 5.1 million shares valued at about $1.8 billion.
• Elevance Health beat earnings expectations, reporting $12.58 EPS versus the $10.74 consensus, while quarterly revenue of $49.49 billion also came in above estimates.
• The company announced a quarterly dividend of $1.72 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $403.11.

Geode Capital Management LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,124,599 shares of the company's stock after selling 19,305 shares during the period. Geode Capital Management LLC owned 2.31% of Elevance Health worth $1,797,009,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its holdings in Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company's stock valued at $26,000 after acquiring an additional 63 shares in the last quarter. Activest Wealth Management boosted its holdings in Elevance Health by 66.7% in the third quarter. Activest Wealth Management now owns 85 shares of the company's stock valued at $27,000 after acquiring an additional 34 shares in the last quarter. Rossby Financial LCC boosted its holdings in Elevance Health by 110.0% in the third quarter. Rossby Financial LCC now owns 84 shares of the company's stock valued at $28,000 after acquiring an additional 44 shares in the last quarter. ORG Partners LLC boosted its holdings in Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company's stock valued at $38,000 after acquiring an additional 59 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Elevance Health in the fourth quarter valued at $38,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $392.47 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $408.00. The stock has a market cap of $85.23 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.21 and a beta of 0.66. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The company's fifty day moving average price is $341.76 and its 200-day moving average price is $338.51.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.Elevance Health's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities analysts expect that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health's payout ratio is currently 29.26%.

Analyst Ratings Changes

A number of analysts have recently commented on ELV shares. Jefferies Financial Group dropped their target price on shares of Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Sanford C. Bernstein boosted their target price on shares of Elevance Health from $384.00 to $424.00 and gave the company an "outperform" rating in a report on Friday, April 24th. The Goldman Sachs Group boosted their target price on shares of Elevance Health from $350.00 to $370.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Mizuho boosted their target price on shares of Elevance Health from $385.00 to $435.00 and gave the company an "outperform" rating in a report on Wednesday, May 20th. Finally, Leerink Partners set a $364.00 target price on shares of Elevance Health in a report on Thursday, April 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $403.11.

Elevance Health Company Profile

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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