Elevance Health, Inc. $ELV Shares Sold by Firetrail Investments PTY Ltd.

by · The Cerbat Gem

Firetrail Investments PTY Ltd. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,560 shares of the company’s stock after selling 744 shares during the period. Elevance Health comprises 2.7% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 20th largest holding. Firetrail Investments PTY Ltd.’s holdings in Elevance Health were worth $10,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ELV. Nuveen LLC purchased a new stake in Elevance Health during the first quarter worth about $789,943,000. Orbis Allan Gray Ltd boosted its holdings in Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after buying an additional 680,228 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after buying an additional 666,534 shares in the last quarter. Boston Partners boosted its holdings in Elevance Health by 241.3% during the first quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after buying an additional 605,689 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Elevance Health by 13.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after buying an additional 324,040 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.5%

Shares of NYSE ELV opened at $317.05 on Friday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a market capitalization of $70.46 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.23 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The firm’s 50-day moving average is $329.07 and its two-hundred day moving average is $348.54.

Elevance Health (NYSE:ELV – Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.37 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s payout ratio is currently 27.96%.

Analyst Ratings Changes

ELV has been the topic of a number of research analyst reports. Barclays decreased their price objective on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. UBS Group reduced their price target 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. TD Cowen upped their price target on shares of Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Mizuho upped their price target on shares of Elevance Health from $342.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, The Goldman Sachs Group started coverage on shares of Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target on the stock. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $398.44.

Read Our Latest Report on ELV

Insider Buying and Selling at Elevance Health

In other news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was acquired 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 in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

About Elevance Health

(Free Report)

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.

See Also

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