Vulcan Value Partners LLC Reduces Position in Elevance Health, Inc. $ELV

Key Points

• Vulcan Value Partners cut its Elevance Health position by 47.5% in the second quarter, selling 140,898 shares and retaining 155,873 shares worth approximately $60.3 million. Institutional investors still own 89.24% of the company.
• Elevance Health reported quarterly EPS of $7.45, exceeding the $6.21 consensus estimate, while revenue reached $49.83 billion. The company also declared a quarterly dividend of $1.72 per share, equivalent to a 1.7% yield.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and eight Holds, producing a “Moderate Buy” consensus and an average price target of $440.90.

Vulcan Value Partners LLC lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 47.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,873 shares of the company's stock after selling 140,898 shares during the period. Elevance Health accounts for 1.8% of Vulcan Value Partners LLC's investment portfolio, making the stock its 13th largest holding. Vulcan Value Partners LLC owned 0.07% of Elevance Health worth $60,281,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WealthCollab LLC grew its holdings in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after buying an additional 27 shares during the last quarter. Kilter Group LLC purchased a new stake in Elevance Health during the 2nd quarter valued at approximately $28,000. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health during the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health during the 4th quarter worth approximately $32,000. Finally, Main Street Group LTD purchased a new position in shares of Elevance Health in the 1st quarter valued at approximately $39,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In other news, Director Robert Dixon, Jr. sold 151 shares of the business'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 transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company's stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Elevance Health Price Performance

Shares of Elevance Health stock traded down $5.46 during trading on Tuesday, reaching $402.04. The company's stock had a trading volume of 1,174,510 shares, compared to its average volume of 1,657,393. The business has a 50 day moving average price of $397.41 and a 200-day moving average price of $365.53. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $436.24. The company has a market capitalization of $87.19 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 2.12 and a beta of 0.69. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to analysts' expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health's revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.84 earnings per share. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health's dividend payout ratio (DPR) is presently 30.58%.

Wall Street Analyst Weigh In

ELV has been the subject of several recent research reports. Leerink Partners increased their price target on Elevance Health from $364.00 to $395.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. Guggenheim boosted their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Weiss Ratings restated a "hold (c)" rating on shares of Elevance Health in a research note on Thursday, August 13th. UBS Group lifted their target price on shares of Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Finally, Robert W. Baird boosted their price target on shares of Elevance Health from $331.00 to $393.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average target price of $440.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.