Sienna Gestion Sells 1,615 Shares of Elevance Health, Inc. $ELV

Key Points

• Sienna Gestion reduced its stake in Elevance Health by 9.6%, selling 1,615 shares and holding a total of 15,204 shares worth approximately $6.43 million.
• The company announced a quarterly dividend of $1.71 per share, with an ex-dividend date of September 10th, resulting in an annualized dividend yield of 2.3%.
• Elevance Health's CEO, Gail Boudreaux, recently bought 8,500 shares at an average cost of $286.94 per share, increasing her total ownership to 151,020 shares.

Sienna Gestion lowered its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,204 shares of the company's stock after selling 1,615 shares during the period. Sienna Gestion's holdings in Elevance Health were worth $6,428,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. CWA Asset Management Group LLC purchased a new position in Elevance Health during the 1st quarter valued at about $299,000. GAMMA Investing LLC increased its holdings in Elevance Health by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after purchasing an additional 1,588 shares during the period. Ritholtz Wealth Management increased its holdings in Elevance Health by 185.7% during the 1st quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock valued at $1,341,000 after purchasing an additional 2,004 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Elevance Health by 15.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,717 shares of the company's stock valued at $2,922,000 after purchasing an additional 913 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Elevance Health by 36.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock valued at $11,991,000 after purchasing an additional 7,410 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Wells Fargo & Company reduced their target price on Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday. Barclays reduced their target price on Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Argus reiterated a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. reduced their target price on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $413.81.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $0.46 during midday trading on Monday, hitting $310.03. The company had a trading volume of 2,509,062 shares, compared to its average volume of 1,970,889. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $69.81 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.13 and a beta of 0.58. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $567.26. The company has a fifty day moving average of $331.51 and a two-hundred day moving average of $381.53.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $10.12 earnings per share. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction dated Friday, July 18th. The stock was purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.