CHURCHILL MANAGEMENT Corp Sells 306 Shares of Elevance Health, Inc. (NYSE:ELV)

CHURCHILL MANAGEMENT Corp lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 8.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,186 shares of the company’s stock after selling 306 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Elevance Health were worth $1,652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sanders Capital LLC increased its holdings in Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock valued at $2,102,208,000 after purchasing an additional 196,010 shares during the last quarter. Capital International Investors increased its holdings in shares of Elevance Health by 7.9% in the fourth quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock worth $1,591,237,000 after acquiring an additional 248,150 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after acquiring an additional 27,986 shares in the last quarter. Norges Bank bought a new stake in shares of Elevance Health in the fourth quarter worth about $1,347,434,000. Finally, Morgan Stanley increased its holdings in shares of Elevance Health by 1.7% in the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after acquiring an additional 46,322 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a report on Wednesday, June 12th. Wells Fargo & Company increased their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. UBS Group increased their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Mizuho upped their price objective on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $607.36.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $534.42 on Friday. The stock has a 50 day moving average price of $532.04 and a 200 day moving average price of $506.77. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $124.21 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the prior year, the firm posted $9.46 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Analysts predict that Elevance Health, Inc. will post 37.2 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. Elevance Health’s payout ratio is 24.64%.

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.