Elevance Health, Inc. (NYSE:ELV) Shares Sold by Sector Gamma AS

Sector Gamma AS lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 32.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,807 shares of the company’s stock after selling 13,340 shares during the quarter. Elevance Health accounts for 3.2% of Sector Gamma AS’s holdings, making the stock its 14th biggest position. Sector Gamma AS’s holdings in Elevance Health were worth $13,113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Unique Wealth Strategies LLC acquired a new stake in shares of Elevance Health in the fourth quarter worth $2,419,000. Intact Investment Management Inc. boosted its holdings in Elevance Health by 26.3% during the fourth quarter. Intact Investment Management Inc. now owns 2,400 shares of the company’s stock worth $1,132,000 after buying an additional 500 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Elevance Health by 0.6% during the fourth quarter. Russell Investments Group Ltd. now owns 610,693 shares of the company’s stock worth $287,640,000 after buying an additional 3,902 shares in the last quarter. Dohj LLC purchased a new stake in Elevance Health during the fourth quarter worth $506,000. Finally, Stuart Chaussee & Associates Inc. boosted its holdings in Elevance Health by 36.6% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 317 shares of the company’s stock worth $149,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $2.42 during midday trading on Friday, hitting $537.26. The company’s stock had a trading volume of 700,726 shares, compared to its average volume of 1,135,198. The business’s 50 day simple moving average is $511.89 and its 200 day simple moving average is $486.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $124.87 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the firm posted $9.46 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts forecast that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly 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 through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The shares were 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 of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on ELV shares. Truist Financial reissued a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. UBS Group increased their price target on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group increased their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus 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.