Mn Services Vermogensbeheer B.V. Reduces Stock Position in Elevance Health, Inc. $ELV

Key Points

• Mn Services Vermogensbeheer B.V. reduced its holdings in Elevance Health, Inc. by 2.3% during the second quarter, now owning 84,600 shares valued at approximately $32.9 million.
• Elevance Health recently reported $8.84 earnings per share, missing the analyst consensus estimate of $9.30, while its revenue exceeded estimates at $49.42 billion, marking a 14.3% year-over-year increase.
• The company announced a quarterly dividend of $1.71, representing an annualized yield of 2.2%, with the ex-dividend date set for September 10th.

Mn Services Vermogensbeheer B.V. lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,600 shares of the company's stock after selling 2,000 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Elevance Health were worth $32,906,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Private Wealth Management Group LLC boosted its holdings in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after acquiring an additional 38 shares during the period. WPG Advisers LLC purchased a new position in Elevance Health during the 1st quarter valued at $29,000. Riverview Trust Co boosted its holdings in Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after acquiring an additional 67 shares during the period. North Capital Inc. purchased a new position in Elevance Health during the 1st quarter valued at $36,000. Finally, Orion Capital Management LLC purchased a new position in Elevance Health during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 0.6%

Shares of NYSE:ELV opened at $308.19 on Thursday. The business's 50-day moving average is $304.16 and its 200 day moving average is $368.97. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $544.60. The firm has a market capitalization of $69.40 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.14 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick 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 net margin of 2.83% and a return on equity of 17.59%. The business 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 company earned $10.12 earnings per share. The company's quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health's dividend payout ratio is currently 29.11%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Guggenheim dropped their price objective on Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a report on Friday, July 18th. Leerink Partners reissued a "market perform" rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Truist Financial lowered their price objective on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company cut their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $411.06.

Insider Transactions at Elevance Health

In other news, Director Susan D. Devore acquired 1,200 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction dated Friday, July 18th. The stock was purchased at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

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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