Elevance Health, Inc. (NYSE:ELV) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its stake in Elevance Health, Inc. by 12.6%, holding 7,522 shares worth approximately $3.25 million.
• CEO Gail Boudreaux purchased 8,500 shares of Elevance Health, increasing her total ownership to 151,020 shares valued at over $43 million.
• The company's recent quarterly earnings reported a revenue of $49.42 billion, exceeding expectations, but the earnings per share fell short of analyst estimates.

Mediolanum International Funds Ltd lowered its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,522 shares of the company's stock after selling 1,086 shares during the quarter. Mediolanum International Funds Ltd's holdings in Elevance Health were worth $3,250,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its position in Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock valued at $276,073,000 after buying an additional 326,543 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Elevance Health during the first quarter worth about $299,000. GAMMA Investing LLC lifted its position in shares of Elevance Health by 88.1% during the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock worth $1,475,000 after purchasing an additional 1,588 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Elevance Health by 185.7% during the first quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock worth $1,341,000 after purchasing an additional 2,004 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Elevance Health by 15.7% during the first quarter. Sequoia Financial Advisors LLC now owns 6,717 shares of the company's stock worth $2,922,000 after purchasing an additional 913 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux purchased 8,500 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $6.07 during mid-day trading on Thursday, hitting $287.48. 1,263,245 shares of the company were exchanged, compared to its average volume of 1,914,272. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a 50 day simple moving average of $353.84 and a 200-day simple moving average of $390.66. Elevance Health, Inc. has a 1-year low of $274.40 and a 1-year high of $567.26. The firm has a market cap of $64.74 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.06 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share 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 company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same period in the prior year, the business earned $10.12 earnings per share. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

Wall Street Analyst Weigh In

ELV has been the topic of several research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Leerink Partnrs cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $478.00 to $400.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $418.19.

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.