Xponance Inc. Sells 168 Shares of Elevance Health, Inc. (NYSE:ELV)

Xponance Inc. cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,012 shares of the company’s stock after selling 168 shares during the period. Xponance Inc.’s holdings in Elevance Health were worth $23,848,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Elevance Health by 114.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after buying an additional 16,737 shares during the last quarter. Brave Warrior Advisors LLC grew its stake in Elevance Health by 7.9% in the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock valued at $828,367,000 after purchasing an additional 129,055 shares during the period. New Mexico Educational Retirement Board increased its position in shares of Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after purchasing an additional 1,800 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Elevance Health by 276.0% during the 4th quarter. Bank of Nova Scotia now owns 82,331 shares of the company’s stock worth $38,823,000 after purchasing an additional 60,436 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of Elevance Health by 119.7% in the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after buying an additional 6,610 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ELV shares. Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Robert W. Baird began coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. Wells Fargo & Company lowered their target price on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Barclays cut their price target on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. Finally, StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health has a consensus rating of “Buy” and an average price target of $604.29.

Insider Activity at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s 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 transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the business’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 completion of the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 over the last 90 days. 0.35% of the stock is owned by insiders.

Elevance Health Trading Up 0.3 %

Shares of ELV stock opened at $539.86 on Monday. The company has a market capitalization of $125.47 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a 52-week low of $431.38 and a 52-week high of $567.26. The business’s fifty day moving average is $536.19 and its 200 day moving average is $529.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping 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 company had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. During the same period in the prior year, the business earned $9.04 earnings per share. Elevance Health’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.21%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

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.