Quadrature Capital Ltd Lowers Position in Elevance Health, Inc. (NYSE:ELV)

Quadrature Capital Ltd trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 72.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,053 shares of the company’s stock after selling 67,838 shares during the quarter. Quadrature Capital Ltd’s holdings in Elevance Health were worth $12,295,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Sanders Capital LLC raised its position in shares of Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after acquiring an additional 196,010 shares during the period. Capital International Investors grew its holdings in Elevance Health by 7.9% in the fourth quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock valued at $1,591,237,000 after purchasing an additional 248,150 shares during the period. Baillie Gifford & Co. increased its position in shares of Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after buying an additional 27,986 shares in the last quarter. Norges Bank purchased a new position in shares of Elevance Health during the 4th quarter valued at approximately $1,347,434,000. Finally, Morgan Stanley lifted its position in shares of Elevance Health by 1.7% during the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after buying an additional 46,322 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $534.38 on Tuesday. The firm has a market cap of $124.20 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The business’s fifty day simple moving average is $529.99 and its 200-day simple moving average is $505.58.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the firm earned $9.46 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts forecast that Elevance Health, Inc. will post 37.2 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Insider Buying and Selling

In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ELV shares. Barclays increased their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Wells Fargo & Company increased their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Stephens reiterated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $607.36.

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.