Twinbeech Capital LP Has $712,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Twinbeech Capital LP reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 98.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,930 shares of the company's stock after selling 126,284 shares during the period. Twinbeech Capital LP's holdings in Elevance Health were worth $712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Tobam grew its holdings in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock valued at $325,000 after acquiring an additional 27 shares in the last quarter. Austin Private Wealth LLC grew its holdings in shares of Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock valued at $736,000 after acquiring an additional 29 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after acquiring an additional 30 shares in the last quarter. Finally, Keystone Financial Services grew its holdings in shares of Elevance Health by 2.4% during the 4th quarter. Keystone Financial Services now owns 1,436 shares of the company's stock valued at $530,000 after acquiring an additional 33 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ELV has been the topic of several analyst reports. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Robert W. Baird restated a "neutral" rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Guggenheim restated a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Finally, Barclays upped their price target on shares of Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $510.38.

Elevance Health Stock Performance

Shares of NYSE ELV traded up $2.15 during mid-day trading on Tuesday, hitting $374.42. The company had a trading volume of 535,003 shares, compared to its average volume of 1,702,646. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business's 50-day simple moving average is $418.36 and its 200-day simple moving average is $402.34. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The firm has a market cap of $84.59 billion, a P/E ratio of 14.62, a PEG ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. As a group, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Insider Buying and Selling

In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares of the company's stock, valued at $4,008,970.80. This trade represents a 25.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock valued at $3,521,612 over the last quarter. Corporate insiders own 0.29% of the company's stock.

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.