RWC Asset Management LLP Sells 5,966 Shares of Elevance Health, Inc. (NYSE:ELV)

RWC Asset Management LLP lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 85.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,045 shares of the company’s stock after selling 5,966 shares during the period. RWC Asset Management LLP’s holdings in Elevance Health were worth $493,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ELV. Transcend Capital Advisors LLC boosted its stake in shares of Elevance Health by 4.4% in the fourth quarter. Transcend Capital Advisors LLC now owns 809 shares of the company’s stock valued at $381,000 after buying an additional 34 shares during the period. Unique Wealth Strategies LLC bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $2,419,000. Intact Investment Management Inc. boosted its stake in shares of Elevance Health by 26.3% in the fourth quarter. Intact Investment Management Inc. now owns 2,400 shares of the company’s stock valued at $1,132,000 after buying an additional 500 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Elevance Health by 0.6% in the fourth quarter. Russell Investments Group Ltd. now owns 610,693 shares of the company’s stock valued at $287,640,000 after buying an additional 3,902 shares during the period. Finally, Dohj LLC bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $506,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ELV. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Jefferies Financial Group boosted their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Mizuho upped their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health Trading Down 0.4 %

NYSE ELV traded down $2.42 on Friday, reaching $537.26. The company had a trading volume of 700,726 shares, compared to its average volume of 1,135,198. The firm has a market cap of $124.87 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 1.19 and a beta of 0.78. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The business has a 50 day moving average of $511.89 and a two-hundred day moving average of $486.40. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

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

Elevance Health Dividend Announcement

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

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of the 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 transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Company 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.