GCM Grosvenor Holdings LLC Sells 13,587 Shares of Elevance Health, Inc. (NYSE:ELV)

GCM Grosvenor Holdings LLC decreased its position in Elevance Health, Inc. (NYSE:ELV) by 30.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 31,702 shares of the company’s stock after selling 13,587 shares during the period. Elevance Health comprises approximately 2.5% of GCM Grosvenor Holdings LLC’s portfolio, making the stock its 10th biggest holding. GCM Grosvenor Holdings LLC’s holdings in Elevance Health were worth $17,178,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ELV. Sanders Capital LLC lifted its position in Elevance Health by 4.6% during the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after buying an additional 196,010 shares during the period. Capital International Investors lifted its position in Elevance Health by 3.7% during the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after buying an additional 123,802 shares during the period. Massachusetts Financial Services Co. MA lifted its position 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 worth $1,117,698,000 after buying an additional 523,910 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of 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 worth $1,115,301,000 after purchasing an additional 275,708 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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 during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The stock was 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 SEC, which is available through the SEC website. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ramiro G. Peru sold 753 shares of the business’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 sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,058 shares of company stock valued at $17,588,116. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ELV shares. Wells Fargo & Company cut their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Robert W. Baird assumed coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 target price for the company. Royal Bank of Canada raised their price objective on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research note on Friday. Finally, Morgan Stanley began coverage on Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. One 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $604.29.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $533.73 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $124.05 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.19 and a beta of 0.82. The stock’s fifty day simple moving average is $536.25 and its 200 day simple moving average is $529.70. Elevance Health, Inc. has a 52-week low of $431.38 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. During the same period in the previous year, the firm posted $9.04 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given 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 1.22%. Elevance Health’s payout ratio is 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.