Elevance Health, Inc. $ELV Shares Sold by Groupe la Francaise

Key Points

• Groupe la Francaise reduced its stake in Elevance Health by 98.0%, now holding only 107 shares after selling 5,230 shares in the first quarter.
• Despite Groupe la Francaise's divestment, other institutional investors like Allstate Corp and Kestra Advisory Services LLC increased their holdings in Elevance Health, reflecting continued interest in the company.
• Analysts have mixed ratings on Elevance Health, with a consensus rating of "Moderate Buy" and a target price averaging $413.81, despite recent earnings falling short of expectations.

Groupe la Francaise reduced its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 98.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107 shares of the company's stock after selling 5,230 shares during the quarter. Groupe la Francaise's holdings in Elevance Health were worth $46,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Private Wealth Management Group LLC increased its position in shares of Elevance Health by 152.0% during the first 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. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health during the fourth quarter worth approximately $25,000. Riverview Trust Co increased its position in shares of Elevance Health by 1,340.0% during the first 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. purchased a new position in shares of Elevance Health during the first quarter worth approximately $36,000. Finally, Berbice Capital Management LLC purchased a new position in shares of Elevance Health during the first quarter worth approximately $43,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 2.8%

ELV stock traded up $8.59 during trading on Friday, hitting $319.00. 3,115,324 shares of the company's stock traded hands, compared to its average volume of 2,222,173. The firm has a market capitalization of $71.83 billion, a P/E ratio of 13.57, a PEG ratio of 1.17 and a beta of 0.59. The business has a fifty day simple moving average of $317.92 and a two-hundred day simple moving average of $375.72. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results 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 firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. During the same quarter last year, the business earned $10.12 earnings per share. Elevance Health's revenue was up 14.3% on a year-over-year basis. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's payout ratio is currently 29.11%.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux purchased 8,500 shares of the business's stock in a transaction on Friday, July 18th. The shares were acquired 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 $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan D. Devore purchased 1,200 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ELV shares. Guggenheim reduced their target price on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. UBS Group reaffirmed a "buy" rating and set a $484.00 target price (down from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Argus reissued a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Finally, Morgan Stanley cut their price objective on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $413.81.

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.