Leuthold Group LLC Cuts Holdings in Elevance Health, Inc. (NYSE:ELV)

Leuthold Group LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,546 shares of the company’s stock after selling 1,572 shares during the quarter. Leuthold Group LLC’s holdings in Elevance Health were worth $7,340,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MQS Management LLC acquired a new stake in shares of Elevance Health in the 2nd quarter worth $217,000. First Eagle Investment Management LLC increased its stake in Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after purchasing an additional 275,708 shares in the last quarter. Sienna Gestion raised its holdings in shares of Elevance Health by 0.6% in the second quarter. Sienna Gestion now owns 12,994 shares of the company’s stock worth $7,038,000 after buying an additional 81 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Elevance Health by 6.3% during the second quarter. Hsbc Holdings PLC now owns 885,954 shares of the company’s stock worth $479,639,000 after buying an additional 52,121 shares during the period. Finally, Blair William & Co. IL grew its holdings in shares of Elevance Health by 21.6% during the second quarter. Blair William & Co. IL now owns 14,756 shares of the company’s stock valued at $7,995,000 after buying an additional 2,622 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Shares of NYSE ELV opened at $539.46 on Thursday. The company has a market capitalization of $125.38 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a 1-year low of $431.38 and a 1-year high of $567.26. The business has a 50-day moving average of $536.03 and a 200-day moving average of $528.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $9.04 earnings per share. On average, equities analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on ELV shares. Morgan Stanley began coverage on Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price for the company. Robert W. Baird assumed coverage on shares of Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Royal Bank of Canada increased their price target on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $604.29.

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.