River Global Investors LLP Sells 120 Shares of Elevance Health, Inc. (NYSE:ELV)

River Global Investors LLP trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,880 shares of the company’s stock after selling 120 shares during the period. River Global Investors LLP’s holdings in Elevance Health were worth $1,359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in Elevance Health by 34.3% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 466 shares of the company’s stock worth $203,000 after purchasing an additional 119 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in Elevance Health by 7.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 15,445 shares of the company’s stock worth $6,725,000 after purchasing an additional 1,132 shares in the last quarter. BluePath Capital Management LLC bought a new stake in Elevance Health during the 3rd quarter worth approximately $98,000. Hikari Power Ltd bought a new stake in Elevance Health during the 3rd quarter worth approximately $222,000. Finally, IFM Investors Pty Ltd grew its holdings in shares of Elevance Health by 3.2% in the third quarter. IFM Investors Pty Ltd now owns 49,915 shares of the company’s stock valued at $21,734,000 after acquiring an additional 1,556 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

Elevance Health stock traded up $1.35 during trading on Friday, hitting $526.96. The stock had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. The stock has a market cap 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. The stock’s 50 day moving average is $513.54 and its two-hundred day moving average is $489.21. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. 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 (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) 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 the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.46 earnings per share. As a group, analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. UBS Group upped their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Truist Financial reaffirmed a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Mizuho upped their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

About Elevance Health

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.