Trillium Asset Management LLC Has $14.36 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Key Points

• Trillium Asset Management LLC reduced its holdings in Elevance Health by 55.1%, now owning 33,023 shares valued at $14.36 million after selling 40,511 shares in the first quarter.
• Elevance Health reported $8.84 earnings per share, missing analysts' estimates of $9.30, despite a revenue of $49.42 billion for the quarter.
• The company declared a quarterly dividend of $1.71 per share, representing an annualized yield of 2.4%, with the payment date set for September 25th.

Trillium Asset Management LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 55.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,023 shares of the company's stock after selling 40,511 shares during the quarter. Trillium Asset Management LLC's holdings in Elevance Health were worth $14,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock valued at $9,635,281,000 after acquiring an additional 666,534 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after buying an additional 464,137 shares in the last quarter. Capital International Investors increased its stake in shares of Elevance Health by 0.9% in the 4th quarter. Capital International Investors now owns 3,880,630 shares of the company's stock valued at $1,431,559,000 after buying an additional 35,576 shares during the period. Northern Trust Corp raised its position in shares of Elevance Health by 16.5% during the fourth quarter. Northern Trust Corp now owns 2,449,028 shares of the company's stock worth $903,446,000 after acquiring an additional 346,557 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Elevance Health by 9.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,352,163 shares of the company's stock valued at $867,713,000 after acquiring an additional 199,550 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. Wells Fargo & Company lowered their price objective on Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Barclays lowered their target price on shares of Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a report on Friday, July 18th. UBS Group reiterated a "buy" rating and set a $484.00 target price (down previously from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Finally, Leerink Partnrs downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $418.19.

Insiders Place Their Bets

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction dated Friday, July 18th. The shares were bought at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Down 1.1%

Shares of ELV stock opened at $290.80 on Tuesday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $567.26. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average of $338.45 and a 200-day moving average of $384.51. The company has a market capitalization of $65.48 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.08 and a beta of 0.58.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results 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). The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. Elevance Health's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $10.12 earnings per share. As a group, equities research analysts predict that Elevance Health, Inc. will post 33.96 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, September 25th. Shareholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.4%. Elevance Health's dividend payout ratio is 29.11%.

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.

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