Elevance Health, Inc. $ELV Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 20.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,106 shares of the company’s stock after selling 2,618 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Elevance Health were worth $3,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health in the 4th quarter worth $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health during the 4th quarter worth approximately $32,000. ORG Partners LLC raised its holdings in shares of Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after acquiring an additional 59 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $38,000. Finally, Dorato Capital Management purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Elevance Health Stock Down 0.5%

Shares of ELV opened at $377.39 on Friday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $398.69 and a two-hundred day simple moving average of $356.52. The company has a market capitalization of $81.84 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the firm posted $8.84 earnings per share. Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that Elevance Health, Inc. will post 27.04 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio is 30.58%.

Analyst Ratings Changes

Several research analysts recently commented on ELV shares. Citigroup raised Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Jefferies Financial Group lowered their target price on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Morgan Stanley increased their target price on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Barclays decreased their price target on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $440.90.

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.