Janus Henderson Group PLC Sells 14,138 Shares of Elevance Health, Inc. (NYSE:ELV)

Janus Henderson Group PLC reduced its position in Elevance Health, Inc. (NYSE:ELV) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 405,094 shares of the company’s stock after selling 14,138 shares during the quarter. Janus Henderson Group PLC owned approximately 0.17% of Elevance Health worth $210,050,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ELV. Norges Bank bought a new stake in shares of Elevance Health in the 4th quarter valued at $1,347,434,000. Massachusetts Financial Services Co. MA bought a new position in Elevance Health during the fourth quarter worth $467,141,000. Canoe Financial LP boosted its stake in Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after acquiring an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC bought a new position in Elevance Health during the fourth quarter worth $239,244,000. Finally, Focused Investors Fund L P bought a new position in Elevance Health during the first quarter worth $249,884,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Up 1.2 %

Shares of ELV stock traded up $6.40 on Tuesday, hitting $536.26. The stock had a trading volume of 1,028,359 shares, compared to its average volume of 1,065,098. The business has a 50 day moving average of $529.98 and a 200 day moving average of $516.65. The stock has a market cap of $124.35 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $555.35.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.04 earnings per share. As a group, analysts expect 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 1.22%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Mizuho increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group increased their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Buy” and a consensus target price of $604.29.

Insider Buying and Selling

In related news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $63,478,674.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $63,478,674.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

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.