River Global Investors LLP Has $1.36 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

River Global Investors LLP cut its position in Elevance Health, Inc. (NYSE:ELV) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,880 shares of the company’s stock after selling 120 shares during the period. River Global Investors LLP’s holdings in Elevance Health were worth $1,359,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Sanders Capital LLC raised its holdings in Elevance Health by 1.4% in the third quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock worth $1,855,750,000 after purchasing an additional 58,013 shares during the period. Baillie Gifford & Co. raised its holdings in Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after purchasing an additional 27,986 shares during the period. Morgan Stanley raised its holdings in Elevance Health by 1.7% in the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after purchasing an additional 46,322 shares during the period. Northern Trust Corp raised its holdings in Elevance Health by 2.4% in the third quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock worth $1,052,175,000 after purchasing an additional 57,098 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Elevance Health by 7.2% during the third quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock worth $1,035,884,000 after acquiring an additional 160,524 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ELV shares. Barclays raised their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Truist Financial restated a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Royal Bank of Canada raised their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group raised their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Stock Up 0.3 %

Elevance Health stock traded up $1.35 during mid-day trading on Friday, reaching $526.96. The company’s stock had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. The business’s 50 day simple moving average is $513.54 and its 200 day simple moving average is $489.21. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The company has a market capitalization of $122.48 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the firm posted $9.46 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

About Elevance Health

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.