Elevance Health, Inc. $ELV Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 81.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 529 shares of the company’s stock after selling 2,264 shares during the period. Thoroughbred Financial Services LLC’s holdings in Elevance Health were worth $205,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in Elevance Health by 4.9% during the 1st quarter. Private Advisor Group LLC now owns 9,970 shares of the company’s stock worth $4,337,000 after buying an additional 468 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Elevance Health by 10.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 6,672 shares of the company’s stock valued at $2,902,000 after acquiring an additional 637 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Elevance Health by 4.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,898 shares of the company’s stock valued at $7,785,000 after acquiring an additional 702 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Elevance Health by 103.6% during the first quarter. Lindbrook Capital LLC now owns 786 shares of the company’s stock worth $342,000 after purchasing an additional 400 shares during the last quarter. Finally, Wealth Alliance LLC boosted its holdings in Elevance Health by 5.0% in the first quarter. Wealth Alliance LLC now owns 1,195 shares of the company’s stock worth $520,000 after purchasing an additional 57 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.9%

ELV opened at $324.64 on Wednesday. The stock’s 50 day moving average price is $330.37 and its 200 day moving average price is $339.63. 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 stock has a market cap of $72.15 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.37 earnings per share. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

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

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. Cowen restated a “buy” rating on shares of Elevance Health in a research note on Thursday, October 23rd. Guggenheim boosted their price objective on Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Truist Financial set a $400.00 price objective on Elevance Health in a research note on Tuesday, October 14th. UBS Group cut their target price on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Finally, The Goldman Sachs Group began coverage on shares of Elevance Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target for the company. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $397.33.

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.