Machina Capital S.A.S. Sells 4,335 Shares of Elevance Health, Inc. $ELV

Machina Capital S.A.S. trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 39.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,554 shares of the company’s stock after selling 4,335 shares during the period. Machina Capital S.A.S.’s holdings in Elevance Health were worth $2,548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in Elevance Health by 146.2% in the third quarter. Activest Wealth Management now owns 64 shares of the company’s stock worth $25,000 after purchasing an additional 38 shares in the last quarter. WealthCollab LLC boosted its holdings in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares in the last quarter. Kilter Group LLC bought a new stake in shares of Elevance Health during the 2nd quarter valued at $28,000. Main Street Group LTD bought a new stake in shares of Elevance Health during the 1st quarter valued at $39,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Elevance Health by 600.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after buying an additional 90 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of NYSE ELV opened at $430.28 on Thursday. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $450.69. The firm has a market cap of $92.97 billion, a P/E ratio of 18.35, a PEG ratio of 2.05 and a beta of 0.63. The company has a 50 day moving average of $414.63 and a 200 day moving average of $374.40. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.71 by $2.28. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The business had revenue of $50.44 billion for the quarter, compared to analysts’ expectations of $49.28 billion. During the same period in the prior year, the firm posted $6.03 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. As a group, research analysts expect that Elevance Health, Inc. will post 29.15 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health’s payout ratio is currently 29.34%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ELV shares. Barclays increased their price target on shares of Elevance Health from $469.00 to $472.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Wells Fargo & Company boosted their price objective on shares of Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 27th. Leerink Partners boosted their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Guggenheim upped their price objective on shares of Elevance Health from $460.00 to $485.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research note on Thursday, October 22nd. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $456.48.

Insiders Place Their Bets

In other news, EVP Ratnakar Lavu sold 1,300 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $440.00, for a total transaction of $572,000.00. Following the transaction, the executive vice president directly owned 14,849 shares of the company’s stock, valued at $6,533,560. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Kaye sold 10,584 shares of the stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total value of $4,658,335.92. Following the sale, the chief financial officer directly owned 19,919 shares in the company, valued at $8,766,949.47. This trade represents a 34.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.