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Vulcan Value Partners LLC Cuts Stake in Elevance Health, Inc. (NYSE:ELV)

Elevance Health logo with Medical background

Key Points

  • Vulcan Value Partners LLC sold 15,018 shares of Elevance Health, reducing its holdings by 3.8%, now holding 378,874 shares, which represent 3.1% of its investment portfolio.
  • Elevance Health reported quarterly earnings of $8.84 EPS, missing the consensus estimate of $9.30, despite a year-over-year revenue increase of 14.3% to $49.42 billion.
  • The company declared a quarterly dividend of $1.71 per share, with a dividend yield of 2.4%, and a payout ratio of 29.11% as of the latest quarter.
  • Five stocks we like better than Elevance Health.

Vulcan Value Partners LLC decreased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 378,874 shares of the company's stock after selling 15,018 shares during the period. Elevance Health makes up approximately 3.1% of Vulcan Value Partners LLC's holdings, making the stock its 13th biggest position. Vulcan Value Partners LLC owned 0.17% of Elevance Health worth $164,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Disciplined Investors L.L.C. acquired a new stake in Elevance Health in the 4th quarter worth $399,000. World Investment Advisors grew its stake in Elevance Health by 20.6% during the fourth quarter. World Investment Advisors now owns 20,537 shares of the company's stock worth $7,576,000 after buying an additional 3,509 shares in the last quarter. Arete Wealth Advisors LLC lifted its holdings in shares of Elevance Health by 9.1% in the fourth quarter. Arete Wealth Advisors LLC now owns 826 shares of the company's stock worth $305,000 after acquiring an additional 69 shares during the last quarter. Pitcairn Co. raised its holdings in Elevance Health by 2.2% in the 4th quarter. Pitcairn Co. now owns 2,307 shares of the company's stock valued at $851,000 after buying an additional 50 shares during the last quarter. Finally, Islay Capital Management LLC grew its position in shares of Elevance Health by 1,550.4% during the 4th quarter. Islay Capital Management LLC now owns 2,096 shares of the company's stock worth $773,000 after buying an additional 1,969 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were acquired at an average price 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 $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ELV shares. JPMorgan Chase & Co. lowered their target price on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Robert W. Baird dropped their target price on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Guggenheim dropped their price target on Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $418.19.

Get Our Latest Report on ELV

Elevance Health Stock Down 3.2%

Shares of NYSE:ELV traded down $8.98 on Friday, hitting $274.10. 3,380,911 shares of the company's stock were exchanged, compared to its average volume of 3,027,049. The firm's 50-day moving average is $349.86 and its 200 day moving average is $389.05. The company has a market capitalization of $61.72 billion, a PE ratio of 11.66, a P/E/G ratio of 1.01 and a beta of 0.58. Elevance Health, Inc. has a 1-year low of $273.84 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data 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 for 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%. The firm's revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $10.12 earnings per share. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business 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 annualized dividend and a yield of 2.5%. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

About Elevance Health

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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