Xponance Inc. Reduces Stake in Elevance Health, Inc. (NYSE:ELV)

Xponance Inc. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,707 shares of the company's stock after selling 4,238 shares during the period. Xponance Inc.'s holdings in Elevance Health were worth $16,836,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its stake in Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after purchasing an additional 326,543 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Elevance Health during the first quarter worth about $299,000. GAMMA Investing LLC lifted its stake in Elevance Health by 88.1% during the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock worth $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Ritholtz Wealth Management lifted its stake in Elevance Health by 185.7% during the first quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock worth $1,341,000 after purchasing an additional 2,004 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Elevance Health by 36.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock valued at $11,991,000 after acquiring an additional 7,410 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ELV. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $495.80.

Insider Activity

In other news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction on 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 directly owned 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Down 1.7%

Shares of NYSE:ELV traded down $5.82 during trading on Friday, hitting $340.04. The stock had a trading volume of 1,698,140 shares, compared to its average volume of 1,631,093. Elevance Health, Inc. has a 12 month low of $337.61 and a 12 month high of $567.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $76.83 billion, a PE ratio of 13.27, a PEG ratio of 0.88 and a beta of 0.60. The firm's fifty day moving average is $380.88 and its 200 day moving average is $397.40.

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

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were paid a $1.71 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.01%. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Elevance Health Company 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.