Nisa Investment Advisors LLC Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

Nisa Investment Advisors LLC lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 132,384 shares of the company's stock after selling 67,054 shares during the period. Nisa Investment Advisors LLC owned about 0.06% of Elevance Health worth $57,582,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in ELV. Proficio Capital Partners LLC boosted its position in Elevance Health by 33.5% during the 4th quarter. Proficio Capital Partners LLC now owns 626 shares of the company's stock valued at $231,000 after buying an additional 157 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the 4th quarter worth about $29,000. Daiwa Securities Group Inc. lifted its position in shares of Elevance Health by 11.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 32,291 shares of the company's stock worth $11,913,000 after purchasing an additional 3,190 shares during the period. Marathon Trading Investment Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter worth about $959,000. Finally, Channing Capital Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter worth about $9,082,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of ELV stock traded down $5.82 during trading hours on Friday, reaching $340.04. The company had a trading volume of 1,698,140 shares, compared to its average volume of 1,633,788. The business has a fifty day moving average price of $380.88 and a 200-day moving average price of $397.57. Elevance Health, Inc. has a one year low of $337.61 and a one year high of $567.26. The firm has a market cap of $76.83 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43.

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

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were given a dividend of $1.71 per share. 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 dividend payout ratio (DPR) is 26.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Guggenheim reaffirmed a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. 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. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $495.80.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the business'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 transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

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.