Exome Asset Management LLC Sells 2,514 Shares of Elevance Health, Inc. $ELV

Exome Asset Management LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 14.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,677 shares of the company’s stock after selling 2,514 shares during the quarter. Elevance Health comprises about 2.2% of Exome Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Exome Asset Management LLC’s holdings in Elevance Health were worth $4,297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ELV. Kemnay Advisory Services Inc. bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health during the fourth quarter worth approximately $32,000. WealthCollab LLC grew its position in Elevance Health by 42.2% in the first 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. ORG Partners LLC increased its holdings in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after buying an additional 59 shares in the last quarter. Finally, Dorato Capital Management bought a new position in shares of Elevance Health in the fourth quarter valued at $41,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ELV. TD Cowen lifted their target price on Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. UBS Group increased their price target on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a research note on Thursday, July 16th. Royal Bank Of Canada reduced their price objective on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research note on Thursday, July 16th. Finally, Barclays decreased their target price on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $440.90.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred 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 approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $378.17 on Tuesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year 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. The company has a market capitalization of $82.01 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.17 and a beta of 0.67. The stock’s fifty day simple moving average is $398.39 and its 200-day simple moving average is $356.51.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the prior year, the business earned $8.84 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts predict that Elevance Health, Inc. will post 27.04 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued 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 dividend payout ratio (DPR) is currently 30.58%.

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.