Elevance Health, Inc. (NYSE:ELV) Holdings Lowered by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,991 shares of the company's stock after selling 8,206 shares during the period. Elevance Health makes up 7.1% of Iridian Asset Management LLC CT's holdings, making the stock its 3rd biggest position. Iridian Asset Management LLC CT's holdings in Elevance Health were worth $22,614,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health during the fourth quarter worth $25,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the fourth quarter valued at $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health during the fourth quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new stake in Elevance Health during the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer directly owned 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Elevance Health Price Performance

ELV traded down $5.82 on Friday, reaching $340.04. 1,698,140 shares of the company's stock were exchanged, compared to its average volume of 1,633,788. The stock has a market cap of $76.83 billion, a PE ratio of 13.27, a P/E/G ratio of 0.87 and a beta of 0.60. Elevance Health, Inc. has a twelve month low of $337.61 and a twelve month high of $567.26. The stock's fifty day moving average price is $380.88 and its 200-day moving average price is $397.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a dividend of $1.71 per share. 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 currently 26.69%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Argus set a $465.00 price target on shares of Elevance Health in a research report on Friday, April 25th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Mizuho lifted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $495.80.

About Elevance Health

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.