Elevance Health, Inc. (NYSE:ELV) Shares Sold by World Equity Group Inc.

World Equity Group Inc. lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 64.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 443 shares of the company's stock after selling 786 shares during the quarter. World Equity Group Inc.'s holdings in Elevance Health were worth $193,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ELV. Milestone Asset Management LLC grew its holdings in Elevance Health by 2.2% during the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after acquiring an additional 24 shares during the last quarter. Elser Financial Planning Inc grew its stake in shares of Elevance Health by 3.0% in the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after buying an additional 26 shares during the period. Jacobi Capital Management LLC raised its holdings in Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after buying an additional 27 shares during the last quarter. McLean Asset Management Corp boosted its position in shares of Elevance Health by 2.3% during the first quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock valued at $620,000 after buying an additional 32 shares during the last quarter. Finally, Accurate Wealth Management LLC raised its position in Elevance Health by 5.1% in the 1st quarter. Accurate Wealth Management LLC now owns 674 shares of the company's stock valued at $296,000 after buying an additional 33 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Up 1.1%

Elevance Health stock traded up $4.06 during trading hours on Tuesday, hitting $376.48. The stock had a trading volume of 1,062,914 shares, compared to its average volume of 1,571,486. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The stock has a market capitalization of $85.06 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60. The stock's 50-day moving average price is $397.31 and its 200-day moving average price is $399.09.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.82%. Elevance Health's payout ratio is currently 26.69%.

Insider Activity at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ELV. Mizuho increased their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Truist Financial set a $500.00 price objective on Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Barclays dropped their target price on Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Finally, Argus set a $465.00 price target on shares of Elevance Health in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average target price of $498.87.

About Elevance Health

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.