Petrus Trust Company LTA Sells 1,699 Shares of Elevance Health, Inc. $ELV

Petrus Trust Company LTA trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 63.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 985 shares of the company's stock after selling 1,699 shares during the period. Petrus Trust Company LTA's holdings in Elevance Health were worth $428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. Nuveen LLC purchased a new position in shares of Elevance Health in the 1st quarter worth $789,943,000. GAMMA Investing LLC grew its stake in shares of Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after buying an additional 1,472,712 shares in the last quarter. Orbis Allan Gray Ltd grew its stake in shares of Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company's stock worth $1,239,276,000 after buying an additional 680,228 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock worth $9,635,281,000 after buying an additional 666,534 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company's stock worth $372,039,000 after buying an additional 605,689 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore acquired 1,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares of the company's stock, valued at $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction dated Friday, July 18th. The stock was acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Elevance Health Trading Down 1.0%

Shares of Elevance Health stock traded down $3.15 during trading on Friday, hitting $311.74. The stock had a trading volume of 1,503,234 shares, compared to its average volume of 2,082,560. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $559.95. The firm's fifty day simple moving average is $306.50 and its 200-day simple moving average is $370.70. The stock has a market cap of $70.20 billion, a PE ratio of 13.27, a PEG ratio of 1.15 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 quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the previous year, the business earned $10.12 EPS. The company's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Elevance Health from $327.00 to $373.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Guggenheim dropped their price objective on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Robert W. Baird lowered their target price on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Argus restated a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Finally, Wells Fargo & Company lowered their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $411.06.

Elevance Health 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.