Punch & Associates Investment Management Inc. Decreases Holdings in Elevance Health, Inc. $ELV

Punch & Associates Investment Management Inc. trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 15.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,599 shares of the company's stock after selling 3,650 shares during the period. Punch & Associates Investment Management Inc.'s holdings in Elevance Health were worth $6,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Sound View Wealth Advisors Group LLC lifted its holdings in Elevance Health by 3.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company's stock worth $354,000 after buying an additional 29 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its holdings in Elevance Health by 3.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company's stock worth $289,000 after buying an additional 29 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in Elevance Health by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company's stock worth $481,000 after buying an additional 29 shares during the last quarter. Savvy Advisors Inc. lifted its holdings in Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company's stock worth $343,000 after buying an additional 30 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in Elevance Health by 6.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the company's stock worth $195,000 after buying an additional 32 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group cut their target price on Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Truist Financial lifted their target price on Elevance Health from $375.00 to $450.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Sanford C. Bernstein lifted their target price on Elevance Health from $384.00 to $424.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Evercore reiterated a "hold" rating on shares of Elevance Health in a research report on Tuesday, May 19th. Finally, Mizuho lifted their target price on Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $416.11.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Elevance Health Stock Down 1.1%

ELV opened at $397.53 on Wednesday. The stock has a market capitalization of $86.33 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.27 and a beta of 0.67. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $426.98. The business's 50-day simple moving average is $370.56 and its 200-day simple moving average is $345.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion for the quarter, compared to analysts' expectations of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Analysts anticipate that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, June 10th. Elevance Health's payout ratio is 29.26%.

About Elevance Health

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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