Elevance Health, Inc. (NYSE:ELV) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 75.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 456,448 shares of the company’s stock after selling 1,420,690 shares during the quarter. Elevance Health comprises about 0.5% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 22nd biggest position. Thrivent Financial for Lutherans owned about 0.19% of Elevance Health worth $209,879,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp acquired a new stake in Elevance Health during the 1st quarter valued at $25,000. Fortis Capital Advisors LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $29,000. TD Capital Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $30,000. New Hampshire Trust acquired a new stake in shares of Elevance Health during the fourth quarter worth $33,000. Finally, Trust Co. of Vermont acquired a new stake in shares of Elevance Health during the fourth quarter worth $34,000. Institutional investors and hedge funds own 87.80% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 310 shares of Elevance Health stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $476.71, for a total transaction of $147,780.10. Following the sale, the director now directly owns 9,638 shares of the company’s stock, valued at $4,594,530.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ELV shares. JPMorgan Chase & Co. decreased their price objective on Elevance Health from $572.00 to $535.00 in a report on Friday, July 7th. Stephens restated an “overweight” rating and set a $555.00 price objective on shares of Elevance Health in a report on Thursday, July 20th. TD Cowen increased their target price on Elevance Health from $564.00 to $585.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Truist Financial cut their target price on Elevance Health from $580.00 to $560.00 in a research report on Tuesday, June 20th. Finally, Wolfe Research lowered Elevance Health from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $568.46.

Elevance Health Trading Down 0.9 %

NYSE:ELV opened at $445.30 on Wednesday. The business’s 50-day moving average is $455.78 and its two-hundred day moving average is $459.41. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $549.52. The firm has a market capitalization of $104.93 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.13 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 19th. The company reported $9.04 EPS for the quarter, beating the consensus estimate of $8.78 by $0.26. Elevance Health had a return on equity of 20.24% and a net margin of 3.87%. The company had revenue of $43.38 billion for the quarter, compared to analyst estimates of $41.64 billion. During the same period last year, the company posted $8.04 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 32.91 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, September 7th. Elevance Health’s payout ratio is 22.17%.

Elevance Health Profile

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.