Elevance Health, Inc. (NYSE:ELV) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 84.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,587 shares of the company’s stock after selling 73,591 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Elevance Health were worth $5,012,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock worth $7,926,028,000 after buying an additional 138,380 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock valued at $1,826,447,000 after purchasing an additional 115,971 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Elevance Health by 47.6% during the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. Finally, Norges Bank acquired a new position in Elevance Health in the fourth quarter worth about $1,135,014,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

Shares of ELV opened at $428.62 on Friday. The firm has a market capitalization of $97.03 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The stock’s fifty day moving average is $408.70 and its 200-day moving average is $417.38. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research analyst reports. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Truist Financial dropped their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $519.81.

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.