Quantinno Capital Management LP Sells 3,369 Shares of Elevance Health, Inc. (NYSE:ELV)

Quantinno Capital Management LP decreased its position in Elevance Health, Inc. (NYSE:ELV) by 28.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,520 shares of the company’s stock after selling 3,369 shares during the quarter. Quantinno Capital Management LP’s holdings in Elevance Health were worth $3,143,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock worth $7,926,028,000 after acquiring an additional 138,380 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock worth $3,917,004,000 after acquiring an additional 464,137 shares during the last quarter. Wellington Management Group LLP grew its holdings in Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares during the last quarter. Geode Capital Management LLC grew its holdings in Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock worth $1,826,447,000 after acquiring an additional 115,971 shares during the last quarter. Finally, Sanders Capital LLC grew its holdings in Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock worth $1,728,722,000 after acquiring an additional 76,896 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were 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 directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock valued at $3,521,612 in the last ninety days. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ELV has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Guggenheim restated a “buy” rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $510.38.

Elevance Health Price Performance

NYSE ELV opened at $403.38 on Tuesday. The business has a 50 day simple moving average of $422.29 and a 200 day simple moving average of $403.57. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week 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. The stock has a market cap of $91.14 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. Elevance Health’s dividend payout ratio is currently 26.69%.

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.