D. E. Shaw & Co. Inc. Sells 77,657 Shares of Elevance Health, Inc. (NYSE:ELV)

D. E. Shaw & Co. Inc. lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 24.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,256 shares of the company’s stock after selling 77,657 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.10% of Elevance Health worth $130,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bank & Trust Co bought a new stake in Elevance Health during the 2nd quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Elevance Health in the fourth quarter worth $28,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health during the 1st quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Elevance Health during the 2nd quarter valued at $28,000. Finally, Strategic Financial Concepts LLC bought a new position in Elevance Health in the 2nd quarter worth $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a report on Friday, September 20th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Morgan Stanley assumed coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target for the company. Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their target price 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, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $604.29.

Elevance Health Trading Down 1.3 %

ELV opened at $520.49 on Thursday. The stock has a 50-day moving average of $535.75 and a 200 day moving average of $529.87. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $567.26. The firm has a market cap of $120.70 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.17 and a beta of 0.82.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same quarter in the previous year, the business earned $9.04 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

About Elevance Health

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.