1832 Asset Management L.P. Sells 5,622 Shares of Elevance Health, Inc. (NYSE:ELV)

1832 Asset Management L.P. lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 615,738 shares of the company’s stock after selling 5,622 shares during the quarter. 1832 Asset Management L.P. owned about 0.26% of Elevance Health worth $333,644,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Sanders Capital LLC lifted its stake 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 buying an additional 196,010 shares in the last quarter. Capital International Investors lifted its stake in Elevance Health by 3.7% in the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after buying an additional 123,802 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after buying an additional 523,910 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Elevance Health by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,867,551 shares of the company’s stock valued at $1,011,888,000 after buying an additional 23,872 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $539.86 on Friday. The company has a market cap of $125.47 billion, a price-to-earnings ratio of 20.40, 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 company’s fifty day simple moving average is $536.19 and its 200 day simple moving average is $529.30. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be issued a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $63,478,674.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock worth $17,588,116 over the last ninety days. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen cut their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research report on Friday. Royal Bank of Canada boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Robert W. Baird initiated coverage on shares of Elevance Health in a research report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. Finally, StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elevance Health has an average rating of “Buy” and an average price target 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.