Yacktman Asset Management LP Sells 1,561 Shares of Elevance Health, Inc. (NYSE:ELV)

Yacktman Asset Management LP reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 385,821 shares of the company’s stock after selling 1,561 shares during the quarter. Elevance Health comprises approximately 1.7% of Yacktman Asset Management LP’s holdings, making the stock its 23rd largest holding. Yacktman Asset Management LP owned 0.16% of Elevance Health worth $181,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Elevance Health during the third quarter valued at approximately $25,000. Alaska Permanent Fund Corp purchased a new stake in Elevance Health during the 4th quarter valued at $31,000. ORG Partners LLC bought a new position in Elevance Health during the fourth quarter valued at $40,000. Orion Capital Management LLC purchased a new stake in shares of Elevance Health in the third quarter valued at $46,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth about $51,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Down 0.3 %

Shares of NYSE ELV traded down $1.44 during trading hours on Friday, hitting $538.24. 395,336 shares of the stock were exchanged, compared to its average volume of 1,055,962. The firm has a fifty day moving average price of $511.40 and a 200-day moving average price of $485.81. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The company has a market cap of $125.10 billion, a PE ratio of 20.40, a PEG ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $9.46 EPS. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 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%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on ELV shares. Barclays upped their price target on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Wells Fargo & Company increased their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada boosted their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Finally, UBS Group raised their price target on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

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.