Elevance Health, Inc. $ELV Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 53.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,377 shares of the company’s stock after selling 84,872 shares during the period. Elevance Health comprises about 1.0% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 22nd biggest position. Coronation Fund Managers Ltd.’s holdings in Elevance Health were worth $21,774,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ELV. WealthCollab LLC lifted its position in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the last quarter. Signet Financial Management LLC boosted its stake in shares of Elevance Health by 3.5% during the first quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after buying an additional 28 shares during the period. Fulton Breakefield Broenniman LLC grew its holdings in shares of Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after buying an additional 29 shares during the last quarter. Perigon Wealth Management LLC increased its position in Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after acquiring an additional 29 shares during the period. Finally, Savvy Advisors Inc. raised its stake in Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after acquiring an additional 30 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

NYSE ELV opened at $389.29 on Thursday. The stock has a market capitalization of $84.42 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.26 and a beta of 0.67. The business’s 50 day moving average is $399.36 and its two-hundred day moving average is $356.20. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same period last year, the firm earned $8.84 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts expect that Elevance Health, Inc. will post 27.08 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ELV has been the topic of several analyst reports. Mizuho lifted their target price on Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Wells Fargo & Company decreased their price target on Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Finally, Guggenheim boosted their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.