Elevance Health, Inc. $ELV Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 5,093,882 shares of the company’s stock after selling 72,833 shares during the quarter. Geode Capital Management LLC’s holdings in Elevance Health were worth $1,977,051,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ELV. CWM LLC boosted its holdings in shares of Elevance Health by 210.1% in the 1st quarter. CWM LLC now owns 13,742 shares of the company’s stock valued at $5,977,000 after acquiring an additional 9,311 shares during the last quarter. Signaturefd LLC boosted its holdings in Elevance Health by 24.8% in the first quarter. Signaturefd LLC now owns 2,926 shares of the company’s stock valued at $1,273,000 after purchasing an additional 581 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Elevance Health by 8.6% in the first quarter. Sigma Planning Corp now owns 2,194 shares of the company’s stock worth $955,000 after buying an additional 174 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Elevance Health by 1.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,530 shares of the company’s stock worth $1,100,000 after purchasing an additional 34 shares in the last quarter. Finally, Dakota Wealth Management acquired a new stake in Elevance Health during the first quarter valued at $257,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Cowen reiterated a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Leerink Partnrs downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. UBS Group reduced their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Finally, TD Cowen lifted their target price on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $397.33.

Elevance Health Stock Up 4.0%

Shares of NYSE:ELV opened at $327.89 on Thursday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The stock has a market cap of $72.87 billion, a P/E ratio of 13.40, a PEG ratio of 1.23 and a beta of 0.60. The business has a fifty day moving average of $329.09 and a two-hundred day moving average of $342.54. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same period in the previous year, the firm earned $8.37 earnings per share. Elevance Health’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. Elevance Health’s dividend payout ratio is currently 27.96%.

Insider Activity

In related news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This represents a 52.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

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.