Lmcg Investments LLC Decreases Holdings in Elevance Health, Inc. (NYSE:ELV)

Lmcg Investments LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 64.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,972 shares of the company's stock after selling 12,429 shares during the quarter. Lmcg Investments LLC's holdings in Elevance Health were worth $3,033,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. CIBC Private Wealth Group LLC raised its position in Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after acquiring an additional 326,543 shares in the last quarter. VELA Investment Management LLC increased its stake in shares of Elevance Health by 101.6% during the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock worth $765,000 after purchasing an additional 1,045 shares during the last quarter. Cambiar Investors LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at about $45,614,000. Unison Asset Management LLC lifted its stake in Elevance Health by 6.4% in the 4th quarter. Unison Asset Management LLC now owns 25,557 shares of the company's stock valued at $9,428,000 after purchasing an additional 1,526 shares during the last quarter. Finally, Banque Pictet & Cie SA grew its holdings in Elevance Health by 44.7% during the fourth quarter. Banque Pictet & Cie SA now owns 26,168 shares of the company's stock worth $9,653,000 after purchasing an additional 8,081 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ELV shares. Royal Bank of Canada restated an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Mizuho increased their price target on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Guggenheim reiterated a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $498.87.

Elevance Health Price Performance

Elevance Health stock traded down $3.70 during midday trading on Monday, reaching $389.66. The company's stock had a trading volume of 1,604,682 shares, compared to its average volume of 1,551,232. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market cap of $88.04 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The business has a 50-day moving average price of $409.50 and a 200-day moving average price of $400.80.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

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.