Elevance Health, Inc. (NYSE:ELV) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,426,828 shares of the company's stock after selling 62,083 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.07% of Elevance Health worth $1,055,573,000 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 4th quarter valued at approximately $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 4th quarter valued at approximately $26,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health during the fourth quarter worth $29,000. Lee Danner & Bass Inc. acquired a new position in Elevance Health during the fourth quarter worth $30,000. Finally, Riverview Trust Co raised its position in 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. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.7%

Shares of NYSE:ELV traded down $2.53 during trading on Tuesday, reaching $337.54. The stock had a trading volume of 463,352 shares, compared to its average volume of 1,629,296. The business has a fifty day moving average price of $379.34 and a 200-day moving average price of $397.52. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The stock has a market cap of $76.26 billion, a P/E ratio of 13.18, a PEG ratio of 0.87 and a beta of 0.60. Elevance Health, Inc. has a fifty-two week low of $335.17 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data 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 3.23% and a return on equity of 18.61%. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the stock a "buy" rating in a report on Monday, June 9th. UBS Group reaffirmed a "buy" rating and set a $484.00 target price (down previously from $555.00) on shares of Elevance Health in a report on Monday. Guggenheim reaffirmed a "buy" rating and set a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $485.87.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the 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 transaction, the chief financial officer owned 18,977 shares of the company's stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Company 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.