Elevance Health, Inc. $ELV Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 46.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 147,974 shares of the company’s stock after selling 128,811 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.07% of Elevance Health worth $43,319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WealthCollab LLC increased its holdings in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the period. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health during the 4th quarter valued at about $32,000. ORG Partners LLC boosted its stake in Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Elevance Health in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.5%

NYSE:ELV opened at $377.39 on Friday. The company has a market capitalization of $81.84 billion, a P/E ratio of 16.77, a P/E/G ratio of 2.17 and a beta of 0.67. The stock’s 50 day moving average price is $398.69 and its 200 day moving average price is $356.52. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $436.24.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $8.84 earnings per share. On average, research analysts forecast that Elevance Health, Inc. will post 27.04 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s dividend payout ratio is currently 30.58%.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ELV shares. Mizuho increased their target price on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Cantor Fitzgerald raised their price objective on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. UBS Group boosted their target price on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $440.90.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.