Elevance Health, Inc. $ELV Shares Sold by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 665 shares of the company’s stock after selling 67 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in Elevance Health were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Ramirez Asset Management Inc. lifted its holdings in Elevance Health by 787.8% during the 2nd quarter. Ramirez Asset Management Inc. now owns 3,649 shares of the company’s stock worth $1,419,000 after buying an additional 3,238 shares in the last quarter. IFP Advisors Inc lifted its holdings in Elevance Health by 6.8% during the 2nd quarter. IFP Advisors Inc now owns 704 shares of the company’s stock worth $300,000 after buying an additional 45 shares in the last quarter. Callan Family Office LLC lifted its holdings in Elevance Health by 123.6% during the 2nd quarter. Callan Family Office LLC now owns 4,505 shares of the company’s stock worth $1,752,000 after buying an additional 2,490 shares in the last quarter. Blair William & Co. IL lifted its holdings in Elevance Health by 3.0% during the 2nd quarter. Blair William & Co. IL now owns 6,260 shares of the company’s stock worth $2,435,000 after buying an additional 180 shares in the last quarter. Finally, AMI Investment Management Inc. lifted its holdings in Elevance Health by 5.1% during the 2nd quarter. AMI Investment Management Inc. now owns 5,558 shares of the company’s stock worth $2,162,000 after buying an additional 272 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $353.29 on Friday. The company’s fifty day moving average price is $315.10 and its 200 day moving average price is $359.18. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $510.24. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $79.55 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.31 and a beta of 0.59.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the prior year, the business earned $10.12 earnings per share. Elevance Health’s revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 29.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ELV shares. UBS Group reduced their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Truist Financial reduced their price objective on shares of Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Morgan Stanley reduced their price objective on shares of Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Leerink Partners restated a “market perform” rating and issued a $310.00 price objective (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Finally, Weiss Ratings upgraded shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $412.00.

Elevance Health 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.