Yacktman Asset Management LP Sells 1,128 Shares of Elevance Health, Inc. $ELV

Yacktman Asset Management LP decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 341,340 shares of the company’s stock after selling 1,128 shares during the quarter. Elevance Health accounts for approximately 1.8% of Yacktman Asset Management LP’s holdings, making the stock its 24th biggest position. Yacktman Asset Management LP owned approximately 0.15% of Elevance Health worth $132,768,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ELV. Strategic Blueprint LLC purchased a new position in Elevance Health in the 1st quarter worth about $200,000. Concurrent Investment Advisors LLC raised its position in Elevance Health by 50.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,189 shares of the company’s stock worth $952,000 after buying an additional 735 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Elevance Health by 16.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 573,607 shares of the company’s stock worth $249,496,000 after buying an additional 82,014 shares during the last quarter. TD Private Client Wealth LLC raised its position in Elevance Health by 50.3% in the 1st quarter. TD Private Client Wealth LLC now owns 4,035 shares of the company’s stock worth $1,755,000 after buying an additional 1,351 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in Elevance Health in the 1st quarter worth about $230,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.4%

Shares of NYSE:ELV opened at $317.93 on Thursday. The stock has a 50 day moving average of $329.35 and a 200 day moving average of $346.19. The company has a market cap of $70.66 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $8.37 EPS. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health’s payout ratio is 27.96%.

Insider Buying and Selling

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings raised Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Robert W. Baird cut their price target on Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Leerink Partnrs downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Leerink Partners restated a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Finally, UBS Group cut their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $397.33.

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.