Elevance Health, Inc. $ELV Stock Holdings Reduced by Exome Asset Management LLC

Exome Asset Management LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 14.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,677 shares of the company’s stock after selling 2,514 shares during the period. Elevance Health accounts for about 2.2% of Exome Asset Management LLC’s investment portfolio, making the stock its 10th largest position. Exome Asset Management LLC’s holdings in Elevance Health were worth $4,297,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP raised its position in Elevance Health by 144.0% during the first quarter. Quantinno Capital Management LP now owns 196,369 shares of the company’s stock valued at $57,487,000 after acquiring an additional 115,886 shares in the last quarter. Hound Partners LLC bought a new stake in Elevance Health in the first quarter worth approximately $1,152,000. Orbimed Advisors LLC increased its stake in shares of Elevance Health by 15.7% during the 1st quarter. Orbimed Advisors LLC now owns 114,700 shares of the company’s stock worth $33,578,000 after purchasing an additional 15,600 shares during the last quarter. Intelligence Driven Advisers LLC acquired a new position in shares of Elevance Health during the 1st quarter worth $208,000. Finally, Gateway Wealth Partners LLC bought a new position in shares of Elevance Health during the 1st quarter valued at $384,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Shares of ELV opened at $378.17 on Tuesday. The company has a market capitalization of $82.01 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $436.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The company’s fifty day moving average price is $398.39 and its 200 day moving average price is $356.51.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the previous year, the business earned $8.84 EPS. The business’s revenue was up .8% on a year-over-year basis. As a group, analysts expect that Elevance Health, Inc. will post 27.04 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.8%. Elevance Health’s dividend payout ratio is presently 30.58%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. Jefferies Financial Group decreased their price objective on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a report on Monday, April 20th. Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Bank of America boosted their price target on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Wells Fargo & Company lowered their price objective on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Finally, Raymond James Financial set a $450.00 price objective on Elevance Health in a research note on Tuesday, July 7th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $440.90.

Elevance Health Company 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.