Russell Investments Group Ltd. Trims Stock Position in Elevance Health, Inc. $ELV

Key Points

• Russell Investments Group Ltd. cut its Elevance Health stake by 6.1% in the fourth quarter, though it still held 509,700 shares valued at about $178.6 million.
• Elevance Health reported better-than-expected quarterly results, with EPS of $12.58 versus estimates of $10.74 and revenue of $49.49 billion, up 1.5% year over year.
• The company also announced a quarterly dividend of $1.72 per share payable June 25, while analysts remain broadly positive with a Moderate Buy consensus and a $416.11 average price target.

Russell Investments Group Ltd. decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 509,700 shares of the company's stock after selling 32,992 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of Elevance Health worth $178,634,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rossby Financial LCC grew its stake in Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company's stock worth $28,000 after buying an additional 44 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $32,000. ORG Partners LLC boosted its holdings in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company's stock valued at $38,000 after acquiring an additional 59 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Elevance Health during the fourth quarter worth approximately $38,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of ELV opened at $397.53 on Wednesday. The company has a 50-day simple moving average of $370.56 and a 200-day simple moving average of $345.84. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $86.33 billion, a PE ratio of 16.91, a P/E/G ratio of 2.27 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.

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

Elevance Health Announces Dividend

The company 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 of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health's payout ratio is 29.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ELV. Bank of America lifted their target price on shares of Elevance Health from $435.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a "hold" rating to a "buy" rating and raised their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Leerink Partners set a $364.00 price objective on shares of Elevance Health in a research note on Thursday, April 23rd. Sanford C. Bernstein upped their target price on shares of Elevance Health from $384.00 to $424.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Finally, Evercore reiterated a "hold" rating on shares of Elevance Health in a research note on Tuesday, May 19th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $416.11.

Insider Activity at Elevance Health

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

Elevance Health Profile

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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