Quent Capital LLC Sells 109 Shares of Elevance Health, Inc. $ELV

Quent Capital LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 8.5% in the 2nd quarter, Holdings Channel reports. The firm owned 1,171 shares of the company’s stock after selling 109 shares during the quarter. Quent Capital LLC’s holdings in Elevance Health were worth $455,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after purchasing an additional 666,534 shares during the period. Orbis Allan Gray Ltd increased its position in Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after purchasing an additional 680,228 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Elevance Health by 13.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after purchasing an additional 324,040 shares during the period. Invesco Ltd. increased its position in Elevance Health by 1.2% during the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after purchasing an additional 24,833 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Elevance Health by 1.5% during the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after purchasing an additional 29,174 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $351.11 on Friday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $510.24. The firm has a market capitalization of $79.06 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.28 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s 50-day simple moving average is $307.98 and its 200-day simple moving average is $361.19.

Elevance Health (NYSE:ELV) last issued 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 return on equity of 17.59% and a net margin of 2.83%.The business 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 firm posted $10.12 EPS. Elevance Health’s revenue was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were paid a dividend of $1.71 per share. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.9%. Elevance Health’s payout ratio is presently 29.11%.

Insider Transactions at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on ELV. Wells Fargo & Company cut their target price on shares of Elevance Health from $400.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. Guggenheim cut their target price on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Truist Financial cut their target price on Elevance Health from $500.00 to $440.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Argus reiterated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $411.06.

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.