Crake Asset Management LLP Sells 14,000 Shares of Elevance Health, Inc. (NYSE:ELV)

Crake Asset Management LLP trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 11.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 104,929 shares of the company's stock after selling 14,000 shares during the period. Elevance Health makes up about 4.7% of Crake Asset Management LLP's investment portfolio, making the stock its 10th biggest position. Crake Asset Management LLP's holdings in Elevance Health were worth $49,480,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ELV. Alaska Permanent Fund Corp acquired a new stake in shares of Elevance Health in the 4th quarter valued at $31,000. Hexagon Capital Partners LLC increased its holdings in shares of Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company's stock worth $35,000 after buying an additional 29 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $40,000. Private Wealth Management Group LLC acquired a new stake in Elevance Health during the 4th quarter valued at $41,000. Finally, Orion Capital Management LLC acquired a new position in Elevance Health in the third quarter worth $46,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. StockNews.com cut shares of Elevance Health from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 25th. Royal Bank of Canada boosted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an "outperform" rating in a research report on Friday, April 19th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group boosted their target price on Elevance Health from $602.00 to $604.00 and gave the stock a "buy" rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average price target of $587.42.

Elevance Health Stock Up 0.7 %

Shares of NYSE ELV traded up $3.82 during mid-day trading on Friday, hitting $547.71. The company had a trading volume of 897,567 shares, compared to its average volume of 924,119. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $520.57 and a two-hundred day simple moving average of $495.37. The company has a market capitalization of $127.30 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.79. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $547.99.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analysts' expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health's quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.46 EPS. On average, equities analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Monday, June 10th. Elevance Health's payout ratio is presently 24.64%.

Insider Activity at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares of the company's stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

Elevance Health 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.