C WorldWide Group Holding A S Has $38.90 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

C WorldWide Group Holding A S lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,439 shares of the company’s stock after selling 1,944 shares during the quarter. Elevance Health makes up approximately 0.5% of C WorldWide Group Holding A S’s investment portfolio, making the stock its 24th largest position. C WorldWide Group Holding A S’s holdings in Elevance Health were worth $38,902,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Proficio Capital Partners LLC grew its position in Elevance Health by 33.5% during the fourth quarter. Proficio Capital Partners LLC now owns 626 shares of the company’s stock worth $231,000 after buying an additional 157 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in Elevance Health by 21.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 676 shares of the company’s stock worth $249,000 after buying an additional 119 shares in the last quarter. Axxcess Wealth Management LLC grew its position in Elevance Health by 48.1% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,509 shares of the company’s stock worth $557,000 after buying an additional 490 shares in the last quarter. Advisors Asset Management Inc. grew its position in Elevance Health by 54.1% during the fourth quarter. Advisors Asset Management Inc. now owns 12,912 shares of the company’s stock worth $4,763,000 after buying an additional 4,535 shares in the last quarter. Finally, Horizon Investments LLC grew its position in Elevance Health by 1.0% during the fourth quarter. Horizon Investments LLC now owns 3,852 shares of the company’s stock worth $1,421,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In other news, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer directly owned 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ELV. Baird R W cut Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. UBS Group reissued a “buy” rating and issued a $484.00 price objective (down from $555.00) on shares of Elevance Health in a research report on Monday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $446.56.

Elevance Health Price Performance

Shares of ELV stock traded down $16.72 on Friday, reaching $285.73. The company’s stock had a trading volume of 1,407,361 shares, compared to its average volume of 1,785,627. The stock’s 50 day simple moving average is $374.07 and its 200-day simple moving average is $396.26. Elevance Health, Inc. has a 12-month low of $279.51 and a 12-month high of $567.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $64.55 billion, a P/E ratio of 11.15, a PEG ratio of 0.88 and a beta of 0.60.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The firm had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. During the same quarter in the previous year, the business earned $10.12 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.39%. Elevance Health’s payout ratio is 26.69%.

Elevance Health 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.