Kovitz Investment Group Partners LLC Sells 15,386 Shares of Elevance Health, Inc. (NYSE:ELV)

Kovitz Investment Group Partners LLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 53.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,365 shares of the company's stock after selling 15,386 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Elevance Health were worth $4,930,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ELV. Vanguard Group Inc. lifted its holdings in shares of Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after purchasing an additional 138,380 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Elevance Health by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after acquiring an additional 464,137 shares in the last quarter. Wellington Management Group LLP boosted its position in Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares during the period. Geode Capital Management LLC grew its stake in Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after acquiring an additional 115,971 shares in the last quarter. Finally, Sanders Capital LLC grew its stake in Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after acquiring an additional 76,896 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on ELV shares. 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. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Argus set a $465.00 price objective on Elevance Health in a research report on Friday, April 25th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to 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 ELV traded up $1.42 during mid-day trading on Friday, hitting $409.73. The company's stock had a trading volume of 1,048,495 shares, compared to its average volume of 1,466,849. The stock's 50-day moving average is $422.21 and its two-hundred day moving average is $404.98. The firm has a market capitalization of $92.57 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping 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 company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.67%. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,535 shares of company stock valued at $3,521,612 over the last ninety days. 0.29% of the stock is owned by company insiders.

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.