Ruane Cunniff & Goldfarb L.P. Reduces Position in Elevance Health, Inc. $ELV

Ruane Cunniff & Goldfarb L.P. decreased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,422,506 shares of the company's stock after selling 25,777 shares during the quarter. Elevance Health accounts for approximately 7.8% of Ruane Cunniff & Goldfarb L.P.'s investment portfolio, making the stock its 5th biggest holding. Ruane Cunniff & Goldfarb L.P. owned 0.64% of Elevance Health worth $498,659,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ELV. Rossby Financial LCC lifted its position in Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company's stock valued at $28,000 after acquiring an additional 44 shares in the last quarter. J.Safra Asset Management Corp bought a new position in Elevance Health in the 4th quarter valued at about $32,000. ORG Partners LLC lifted its position in Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company's stock valued at $38,000 after acquiring an additional 59 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Elevance Health in the 4th quarter valued at about $38,000. Finally, Dorato Capital Management bought a new position in Elevance Health in the 4th quarter valued at about $41,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Up 1.1%

NYSE:ELV opened at $403.74 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $87.68 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $426.98. The firm has a 50-day moving average price of $366.62 and a two-hundred day moving average price of $344.86.

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, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same quarter last year, the business posted $11.97 EPS. Elevance Health's quarterly revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities analysts expect that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

ELV has been the topic of several recent research reports. Weiss Ratings raised shares of Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 18th. Barclays increased their price objective on shares of Elevance Health from $408.00 to $480.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Robert W. Baird increased their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the company a "neutral" rating in a research note on Thursday, April 23rd. The Goldman Sachs Group increased their price objective on shares of Elevance Health from $350.00 to $370.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Finally, Evercore reiterated a "hold" rating on shares of Elevance Health in a research note on Tuesday, May 19th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $416.11.

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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