Elevance Health, Inc. (NYSE:ELV) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,820 shares of the company’s stock after selling 721 shares during the period. Metis Global Partners LLC’s holdings in Elevance Health were worth $5,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Sanders Capital LLC increased its position in Elevance Health by 1.4% during the 3rd 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 in the last quarter. Baillie Gifford & Co. increased its position in shares of 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 acquiring an additional 27,986 shares in the last quarter. Morgan Stanley raised its stake in shares of Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after acquiring an additional 46,322 shares during the period. Northern Trust Corp lifted its holdings in shares of Elevance Health by 2.4% during the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock valued at $1,052,175,000 after acquiring an additional 57,098 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in Elevance Health by 7.2% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock worth $1,035,884,000 after purchasing an additional 160,524 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In other Elevance Health 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 completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health 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 sale, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada boosted their price objective on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Wells Fargo & Company lifted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Truist Financial reaffirmed a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Elevance Health Stock Performance

ELV stock traded up $1.35 during trading on Friday, hitting $526.96. 819,445 shares of the company’s stock traded hands, compared to its average volume of 1,136,492. The stock has a fifty day moving average price of $513.54 and a two-hundred day moving average price of $489.21. 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 52 week low of $412.00 and a 52 week high of $542.07. The stock 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.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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 analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.46 earnings per share. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

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.