Vulcan Value Partners LLC Trims Stock Position in Elevance Health, Inc. $ELV

Vulcan Value Partners LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 47.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 155,873 shares of the company’s stock after selling 140,898 shares during the period. Elevance Health accounts for 1.8% of Vulcan Value Partners LLC’s portfolio, making the stock its 13th largest position. Vulcan Value Partners LLC’s holdings in Elevance Health were worth $60,281,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ELV. West Family Investments Inc. acquired a new position in Elevance Health in the second quarter valued at $330,000. Waverly Advisors LLC raised its holdings in shares of Elevance Health by 16.9% in the 2nd quarter. Waverly Advisors LLC now owns 8,081 shares of the company’s stock worth $3,125,000 after purchasing an additional 1,168 shares during the period. Paragon Capital Management Ltd purchased a new position in shares of Elevance Health in the 2nd quarter worth about $324,000. Nykredit A S acquired a new position in shares of Elevance Health in the 2nd quarter valued at about $29,794,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Elevance Health by 9.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 782 shares of the company’s stock valued at $302,000 after purchasing an additional 65 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ELV. Barclays dropped their target price on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Leerink Partners increased their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Royal Bank Of Canada cut their target price on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 16th. Finally, Truist Financial upped their price target on shares of Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Buying and Selling

In other Elevance Health news, Director Robert Dixon, Jr. sold 151 shares of the company’s stock in a transaction dated 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 directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

Elevance Health Stock Down 1.3%

NYSE ELV traded down $5.46 on Tuesday, reaching $402.04. The company had a trading volume of 1,174,510 shares, compared to its average volume of 1,657,393. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The firm has a 50-day moving average of $397.41 and a 200-day moving average of $365.53. The firm has a market capitalization of $87.19 billion, a PE ratio of 17.87, a P/E/G ratio of 2.12 and a beta of 0.69.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter last year, the firm posted $8.84 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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

Elevance Health Company Profile

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.