MassMutual Private Wealth & Trust FSB Trims Holdings in Elevance Health, Inc. $ELV

MassMutual Private Wealth & Trust FSB trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 8.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,066 shares of the company’s stock after selling 96 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Elevance Health were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. Woodline Partners LP purchased a new position in Elevance Health in the 4th quarter valued at about $894,000. Waverly Advisors LLC lifted its holdings in Elevance Health by 68.1% in the 4th quarter. Waverly Advisors LLC now owns 5,510 shares of the company’s stock valued at $2,033,000 after purchasing an additional 2,233 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Elevance Health by 19.0% in the 4th quarter. Continuum Advisory LLC now owns 833 shares of the company’s stock valued at $307,000 after purchasing an additional 133 shares in the last quarter. CSS LLC IL lifted its holdings in Elevance Health by 34.3% in the 4th quarter. CSS LLC IL now owns 2,820 shares of the company’s stock valued at $1,040,000 after purchasing an additional 720 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Elevance Health by 14.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,406 shares of the company’s stock valued at $16,381,000 after acquiring an additional 5,624 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In other news, CEO Gail Boudreaux acquired 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The shares were purchased at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ELV. Royal Bank Of Canada reiterated an “outperform” rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. JPMorgan Chase & Co. cut their price objective on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Barclays increased their price objective on shares of Elevance Health from $327.00 to $373.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Leerink Partners reiterated a “market perform” rating and set a $310.00 price objective (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Finally, Argus reiterated a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $411.06.

Elevance Health Stock Performance

Elevance Health stock opened at $315.23 on Friday. The stock has a market cap of $70.98 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $303.55 and a 200-day moving average of $368.41. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $544.54.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The business had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $10.12 earnings per share. On average, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health’s dividend payout ratio is 29.11%.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.