Diversified Trust Co Lowers Stake in Elevance Health, Inc. $ELV

Diversified Trust Co trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 34,151 shares of the company’s stock after selling 2,058 shares during the period. Diversified Trust Co’s holdings in Elevance Health were worth $11,035,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ELV. Norges Bank acquired a new position in Elevance Health in the 2nd quarter valued at about $1,148,379,000. Sanders Capital LLC increased its holdings in shares of Elevance Health by 24.7% in the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after purchasing an additional 1,152,440 shares during the period. Beutel Goodman & Co Ltd. acquired a new position in shares of Elevance Health in the second quarter valued at approximately $293,141,000. Vanguard Group Inc. raised its stake in shares of Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after purchasing an additional 704,790 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Elevance Health by 30.7% during the second quarter. The Manufacturers Life Insurance Company now owns 2,076,668 shares of the company’s stock worth $807,741,000 after purchasing an additional 487,579 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ELV shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Elevance Health in a research note on Monday, December 22nd. Barclays dropped their price target on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $320.00 target price (down from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. Finally, Cowen restated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Twelve analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.21.

Elevance Health Stock Performance

NYSE:ELV opened at $348.44 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $77.44 billion, a PE ratio of 14.25, a P/E/G ratio of 1.62 and a beta of 0.52. The firm has a 50 day simple moving average of $333.96 and a 200-day simple moving average of $328.89. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

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

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.