Unisphere Establishment Decreases Position in Elevance Health, Inc. (NYSE:ELV)

Unisphere Establishment reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 31.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,300 shares of the company’s stock after selling 8,500 shares during the period. Unisphere Establishment’s holdings in Elevance Health were worth $6,751,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Voleon Capital Management LP acquired a new position in Elevance Health during the 4th quarter worth approximately $2,668,000. Utah Retirement Systems raised its stake in shares of Elevance Health by 0.5% during the 4th quarter. Utah Retirement Systems now owns 38,650 shares of the company’s stock worth $14,258,000 after buying an additional 200 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Elevance Health by 19.5% during the 4th quarter. AQR Capital Management LLC now owns 418,636 shares of the company’s stock worth $154,435,000 after buying an additional 68,392 shares in the last quarter. Northern Trust Corp raised its stake in shares of Elevance Health by 16.5% during the 4th quarter. Northern Trust Corp now owns 2,449,028 shares of the company’s stock worth $903,446,000 after buying an additional 346,557 shares in the last quarter. Finally, Oxford Asset Management LLP raised its stake in shares of Elevance Health by 15.5% during the 4th quarter. Oxford Asset Management LLP now owns 1,776 shares of the company’s stock worth $655,000 after buying an additional 238 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ELV. Baird R W downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Guggenheim reaffirmed a “buy” rating and issued a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $510.38.

Elevance Health Stock Down 0.1 %

ELV stock opened at $413.54 on Wednesday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market cap of $93.43 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.18 and a beta of 0.77. The company has a 50 day moving average of $420.88 and a two-hundred day moving average of $406.73.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 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 Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.65%. Elevance Health’s dividend payout ratio is 26.69%.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 in the last ninety days. Insiders own 0.29% of the company’s stock.

About Elevance Health

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.