Twin Capital Management Inc. Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Twin Capital Management Inc. lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,644 shares of the company’s stock after selling 61 shares during the period. Twin Capital Management Inc.’s holdings in Elevance Health were worth $775,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in Elevance Health by 21.3% in the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after buying an additional 9,199 shares during the period. Chicago Capital LLC increased its stake in Elevance Health by 244.2% in the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after buying an additional 4,986 shares during the period. Lecap Asset Management Ltd. purchased a new position in Elevance Health in the 4th quarter worth about $2,235,000. International Assets Investment Management LLC increased its stake in Elevance Health by 45,888.1% in the 4th quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after buying an additional 255,138 shares during the period. Finally, Avitas Wealth Management LLC purchased a new position in Elevance Health in the 4th quarter worth about $2,137,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Up 1.2 %

NYSE:ELV opened at $531.59 on Friday. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $539.11. The stock has a market capitalization of $123.70 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.12 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The company’s 50-day simple moving average is $509.14 and its 200-day simple moving average is $483.22.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. Elevance Health’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $9.46 EPS. On average, equities analysts anticipate that Elevance Health, Inc. will post 37.03 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is currently 25.90%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ELV. Royal Bank of Canada raised their price target on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial reiterated a “buy” rating and set a $600.00 target price (up from $580.00) on shares of Elevance Health in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. UBS Group increased their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays increased their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $583.77.

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.