Intech Investment Management LLC Sells 1,525 Shares of Elevance Health, Inc. (NYSE:ELV)

Intech Investment Management LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,155 shares of the company’s stock after selling 1,525 shares during the period. Intech Investment Management LLC’s holdings in Elevance Health were worth $8,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sanders Capital LLC raised its position in shares of Elevance Health by 4.6% during the 4th 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 period. Capital International Investors lifted its holdings in Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after purchasing an additional 123,802 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Elevance Health by 34.0% during 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 acquiring an additional 523,910 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Elevance Health by 15.5% in 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 acquiring an additional 275,708 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Elevance Health by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,867,551 shares of the company’s stock worth $1,011,888,000 after purchasing an additional 23,872 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 0.3 %

Shares of NYSE:ELV opened at $539.79 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50 day simple moving average of $536.19 and a two-hundred day simple moving average of $529.08. Elevance Health, Inc. has a 1 year low of $431.38 and a 1 year high of $567.26. The firm has a market capitalization of $125.46 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV) last announced 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 return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. During the same quarter in the prior year, the company posted $9.04 EPS. Elevance Health’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ELV. Bank of America restated a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Barclays cut their target price on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. Morgan Stanley began coverage on shares of Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. Finally, TD Cowen dropped their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $604.29.

Insider Buying and Selling at Elevance Health

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 transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction 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 owns 126,709 shares in the company, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock valued at $17,588,116 in the last three months. Company insiders own 0.35% of the company’s stock.

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.