Lmcg Investments LLC Reduces Holdings in Elevance Health, Inc. $ELV

Key Points

• Lmcg Investments LLC has reduced its stake in Elevance Health by 29.5%, now owning 4,915 shares valued at approximately $1.91 million.
• Elevance Health recently reported earnings of $8.84 per share for the last quarter, missing the consensus estimate of $9.30, despite revenues increasing by 14.3% year-over-year.
• The company's recent quarterly dividend was $1.71, with a dividend yield of 1.9% and a payout ratio of 29.11%.

Lmcg Investments LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 29.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,915 shares of the company's stock after selling 2,057 shares during the quarter. Lmcg Investments LLC's holdings in Elevance Health were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ELV. Nuveen LLC purchased a new stake in Elevance Health during the 1st quarter valued at about $789,943,000. Orbis Allan Gray Ltd boosted its holdings in Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company's stock valued at $1,239,276,000 after acquiring an additional 680,228 shares during the period. Vanguard Group Inc. boosted its holdings in Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock valued at $9,635,281,000 after acquiring an additional 666,534 shares during the period. Boston Partners boosted its holdings in Elevance Health by 241.3% during the 1st quarter. Boston Partners now owns 856,737 shares of the company's stock valued at $372,039,000 after acquiring an additional 605,689 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Elevance Health by 13.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company's stock valued at $1,164,041,000 after acquiring an additional 324,040 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In other news, CEO Gail Boudreaux bought 8,500 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was purchased at an average price 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. The trade was a 5.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan D. Devore bought 1,200 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents 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 corporate insiders.

Elevance Health Stock Down 1.4%

Shares of NYSE:ELV opened at $353.29 on Friday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $510.24. The firm has a market capitalization of $79.55 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.29 and a beta of 0.59. The stock has a 50 day moving average price of $315.10 and a 200-day moving average price of $358.68. 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 earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same period in the prior year, the company posted $10.12 EPS. The firm's revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. Elevance Health's dividend payout ratio is currently 29.11%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ELV. Robert W. Baird dropped their target price on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Morgan Stanley lowered their price target 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. Mizuho upped their price target on Elevance Health from $342.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Weiss Ratings raised Elevance Health from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $412.00.

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.

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