Naples Global Advisors LLC Sells 799 Shares of Elevance Health, Inc. (NYSE:ELV)

Naples Global Advisors LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 45.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 941 shares of the company's stock after selling 799 shares during the quarter. Naples Global Advisors LLC's holdings in Elevance Health were worth $409,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Elevance Health

In other 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 transaction of $1,949,074.16. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ELV. Truist Financial lifted their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Guggenheim reaffirmed a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $499.53.

Elevance Health Price Performance

NYSE ELV opened at $393.70 on Friday. The company has a market cap of $88.95 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm's 50-day simple moving average is $409.50 and its two-hundred day simple moving average is $400.79.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share 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 1.74%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

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.

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