Elevance Health, Inc. $ELV Shares Sold by KBC Group NV

KBC Group NV lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 19.6% during the first quarter, Holdings Channel.com reports. The firm owned 62,723 shares of the company’s stock after selling 15,256 shares during the period. KBC Group NV’s holdings in Elevance Health were worth $18,363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SEB Asset Management AB acquired a new position in shares of Elevance Health during the first quarter worth $13,929,000. Swiss National Bank increased its position in Elevance Health by 5.7% in the 1st quarter. Swiss National Bank now owns 652,220 shares of the company’s stock valued at $190,937,000 after acquiring an additional 35,160 shares during the period. Heartland Advisors Inc. raised its stake in shares of Elevance Health by 2.2% during the first quarter. Heartland Advisors Inc. now owns 6,831 shares of the company’s stock worth $2,000,000 after purchasing an additional 145 shares during the last quarter. Atlas Wealth LLC lifted its stake in shares of Elevance Health by 41,499.1% in the 1st quarter. Atlas Wealth LLC now owns 336,953 shares of the company’s stock worth $98,643,000 after acquiring an additional 336,143 shares during the period. Finally, Kera Capital Partners Inc. purchased a new stake in Elevance Health in the 1st quarter valued at approximately $228,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Up 2.9%

NYSE ELV opened at $393.46 on Wednesday. The stock has a market cap of $85.33 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The firm’s 50 day moving average price is $399.56 and its two-hundred day moving average price is $355.93.

Elevance Health (NYSE:ELV) last issued 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 company had revenue of $49.83 billion during the quarter, compared to analyst estimates 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 for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $8.84 EPS. Equities analysts anticipate that Elevance Health, Inc. will post 27.08 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is currently 30.58%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Royal Bank Of Canada lowered their price target on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Bank of America raised their target price on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. UBS Group upped their target price on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.