Mcdonald Capital Investors Inc. CA Reduces Holdings in Elevance Health, Inc. (NYSE:ELV)

Mcdonald Capital Investors Inc. CA trimmed its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,461 shares of the company's stock after selling 798 shares during the period. Elevance Health makes up about 3.5% of Mcdonald Capital Investors Inc. CA's portfolio, making the stock its 14th biggest position. Mcdonald Capital Investors Inc. CA owned about 0.06% of Elevance Health worth $55,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Elevance Health during the 4th quarter valued at $1,135,014,000. Wellington Management Group LLP boosted its stake in shares of Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. GAMMA Investing LLC boosted its stake in shares of Elevance Health by 81,726.5% during the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after purchasing an additional 1,472,712 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in Elevance Health by 6,817.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after buying an additional 895,658 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Robert W. Baird reissued a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Argus set a $465.00 price objective on shares of Elevance Health in a research note on Friday, April 25th. Barclays decreased their price objective on shares of Elevance Health from $480.00 to $434.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $495.80.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of the firm'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 value of $1,949,074.16. Following the sale, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company's stock.

Elevance Health Price Performance

ELV stock 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 1,631,093. The stock has a fifty day moving average of $380.88 and a 200-day moving average of $397.40. 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 firm has a market cap of $76.83 billion, a PE ratio of 13.27, a P/E/G ratio of 0.88 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.

Elevance Health (NYSE:ELV - Get Free Report) last posted 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 return on equity of 18.61% and a net margin of 3.23%. The company had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 2.01%. Elevance Health's payout ratio is currently 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.