Archon Partners LLC Trims Holdings in Elevance Health, Inc. $ELV

Archon Partners LLC lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 60.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the company’s stock after selling 30,000 shares during the period. Archon Partners LLC’s holdings in Elevance Health were worth $7,779,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Aspen Investment Management Inc grew its holdings in shares of Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after buying an additional 27 shares during the last quarter. Regatta Capital Group LLC lifted its position in Elevance Health by 3.0% during the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after acquiring an additional 30 shares during the period. Smartleaf Asset Management LLC lifted its position in Elevance Health by 1.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock worth $934,000 after acquiring an additional 32 shares during the period. Accurate Wealth Management LLC grew its stake in shares of Elevance Health by 4.9% in the 2nd quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock valued at $275,000 after purchasing an additional 33 shares during the last quarter. Finally, Capital Analysts LLC increased its holdings in shares of Elevance Health by 6.5% in the first quarter. Capital Analysts LLC now owns 577 shares of the company’s stock valued at $251,000 after purchasing an additional 35 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.3%

Shares of Elevance Health stock opened at $329.71 on Wednesday. The company has a 50-day moving average of $334.58 and a two-hundred day moving average of $332.19. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market cap of $73.27 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.53 and a beta of 0.52.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter in the prior year, the firm posted $8.37 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Analyst Upgrades and Downgrades

ELV has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Barclays cut their price objective on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. The Goldman Sachs Group began coverage on shares of Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price on the stock. UBS Group dropped their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Finally, Cowen restated a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $398.44.

Elevance Health 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.