Sawtooth Solutions LLC Trims Stock Position in Elevance Health Inc. (NYSE:ELV)

Sawtooth Solutions LLC lowered its holdings in shares of Elevance Health Inc. (NYSE:ELVGet Rating) by 45.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,153 shares of the company’s stock after selling 1,807 shares during the quarter. Sawtooth Solutions LLC’s holdings in Elevance Health were worth $1,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ELV. Vanguard Group Inc. grew its stake in shares of Elevance Health by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 20,772,895 shares of the company’s stock valued at $10,204,062,000 after acquiring an additional 1,860,427 shares during the period. State Street Corp grew its stake in shares of Elevance Health by 1.5% during the 4th quarter. State Street Corp now owns 10,732,795 shares of the company’s stock valued at $4,975,080,000 after acquiring an additional 162,857 shares during the period. Capital International Investors grew its stake in shares of Elevance Health by 11.2% during the 1st quarter. Capital International Investors now owns 6,271,824 shares of the company’s stock valued at $3,081,334,000 after acquiring an additional 633,661 shares during the period. Geode Capital Management LLC grew its stake in shares of Elevance Health by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,174,578 shares of the company’s stock valued at $1,929,914,000 after acquiring an additional 51,641 shares during the period. Finally, Sanders Capital LLC grew its stake in shares of Elevance Health by 1.0% during the 1st quarter. Sanders Capital LLC now owns 4,081,861 shares of the company’s stock valued at $2,206,855,000 after acquiring an additional 39,260 shares during the period. Hedge funds and other institutional investors own 89.86% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $485.33 on Friday. The stock’s fifty day moving average is $481.92 and its 200 day moving average is $486.03. Elevance Health Inc. has a fifty-two week low of $363.37 and a fifty-two week high of $533.68. The firm has a market capitalization of $116.48 billion, a PE ratio of 19.46, a PEG ratio of 1.40 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.37.

Elevance Health (NYSE:ELVGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The company reported $8.04 earnings per share for the quarter, beating the consensus estimate of $7.72 by $0.32. Elevance Health had a return on equity of 19.20% and a net margin of 4.09%. The company had revenue of $38.48 billion for the quarter, compared to analyst estimates of $38.05 billion. During the same quarter in the prior year, the firm posted $7.03 EPS. Elevance Health’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Elevance Health Inc. will post 28.82 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be issued a dividend of $1.28 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $5.12 annualized dividend and a yield of 1.05%. Elevance Health’s payout ratio is presently 20.53%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ELV. Royal Bank of Canada cut their price objective on Elevance Health from $544.00 to $505.00 in a research note on Thursday, July 21st. SVB Leerink upgraded Elevance Health from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $490.00 to $580.00 in a research note on Monday, August 22nd. StockNews.com started coverage on Elevance Health in a research note on Thursday, July 7th. They issued a “strong-buy” rating for the company. Cowen dropped their price target on Elevance Health to $577.00 in a research note on Friday, July 22nd. Finally, Wells Fargo & Company dropped their price target on Elevance Health from $586.00 to $580.00 and set an “overweight” rating for the company in a research note on Wednesday, May 25th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $563.38.

About Elevance Health

(Get Rating)

Elevance Health Inc operates as a health benefits company. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives. It serves approximately 118 million people through a portfolio of medical, digital, pharmacy, behavioral, clinical, and care solutions.

Recommended Stories

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health Inc. (NYSE:ELVGet Rating).

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.