Elevance Health, Inc. (NYSE:ELV) Shares Sold by HMS Capital Management LLC

HMS Capital Management LLC trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,906 shares of the company’s stock after selling 201 shares during the quarter. HMS Capital Management LLC’s holdings in Elevance Health were worth $899,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Sanders Capital LLC lifted its holdings in shares of Elevance Health by 1.4% in the 3rd quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock valued at $1,855,750,000 after buying an additional 58,013 shares during the period. Alliancebernstein L.P. increased its position in Elevance Health by 13.1% during the second quarter. Alliancebernstein L.P. now owns 3,214,663 shares of the company’s stock worth $1,428,243,000 after buying an additional 372,937 shares in the last quarter. Nuveen Asset Management LLC increased its position in Elevance Health by 1.8% during the second quarter. Nuveen Asset Management LLC now owns 3,143,404 shares of the company’s stock worth $1,396,583,000 after buying an additional 56,204 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Elevance Health by 1.7% during the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after purchasing an additional 46,322 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Elevance Health during the fourth quarter worth $1,253,211,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $516.97 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $499.38 and a 200-day simple moving average of $474.97. The company has a market cap of $120.30 billion, a PE ratio of 20.54, a P/E/G ratio of 1.15 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $519.37.

Elevance Health (NYSE:ELVGet Free Report) last released its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.23 earnings per share. On average, equities research analysts forecast that Elevance Health, Inc. will post 37.15 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.26%. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, March 7th. Elevance Health’s dividend payout ratio is 25.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ELV shares. Barclays began coverage on Elevance Health in a report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price on the stock. Cantor Fitzgerald lifted their target price on Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada boosted their price objective on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $569.36.

Check Out Our Latest Research Report on ELV

Elevance Health Company Profile

(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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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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