Arrowstreet Capital Limited Partnership Sells 164,615 Shares of Elevance Health, Inc. $ELV

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,346,989 shares of the company’s stock after selling 164,615 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Elevance Health were worth $472,187,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ELV. Norges Bank bought a new stake in shares of Elevance Health during the 4th quarter valued at $1,058,165,000. Bank of New York Mellon Corp lifted its position in shares of Elevance Health by 79.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock valued at $844,371,000 after acquiring an additional 1,065,065 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Elevance Health by 24.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock valued at $1,478,857,000 after acquiring an additional 901,626 shares during the period. First Eagle Investment Management LLC lifted its position in shares of Elevance Health by 25.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock valued at $1,292,029,000 after acquiring an additional 798,457 shares during the period. Finally, Brave Warrior Advisors LLC lifted its position in shares of Elevance Health by 65.3% during the 3rd quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company’s stock valued at $592,603,000 after acquiring an additional 724,349 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

Shares of ELV stock opened at $403.74 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $426.98. The company has a market cap of $87.68 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.29 and a beta of 0.67. The business has a fifty day simple moving average of $366.62 and a 200 day simple moving average of $344.86.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same period in the prior year, the company earned $11.97 EPS. Elevance Health’s revenue for the quarter was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, sell-side analysts forecast that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be given a $1.72 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is currently 29.26%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ELV. Guggenheim upped their target price on Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Sanford C. Bernstein upped their price objective on Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Mizuho upped their price objective on Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. upped their price objective on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Finally, Truist Financial upped their price objective on Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $416.11.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.