Vulcan Value Partners LLC Sells 44,802 Shares of Elevance Health, Inc. (NYSE:ELV)

Vulcan Value Partners LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 11.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 344,938 shares of the company’s stock after selling 44,802 shares during the period. Elevance Health makes up about 2.8% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 17th largest position. Vulcan Value Partners LLC’s holdings in Elevance Health were worth $186,745,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ELV. Bell Investment Advisors Inc lifted its stake in Elevance Health by 2.1% in the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after purchasing an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Elevance Health by 8.8% in the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after buying an additional 20 shares during the period. Bedel Financial Consulting Inc. lifted its stake in shares of Elevance Health by 1.6% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after acquiring an additional 20 shares during the last quarter. American Trust boosted its holdings in Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after acquiring an additional 20 shares during the period. Finally, Fiduciary Alliance LLC grew its position in Elevance Health by 3.6% in the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after acquiring an additional 21 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ELV shares. Barclays decreased their target price on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Truist Financial boosted their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Bank of America reaffirmed a “neutral” rating and set a $530.00 target price (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. TD Cowen lowered their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Finally, Royal Bank of Canada raised their price objective on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $604.29.

Elevance Health Stock Performance

ELV stock opened at $524.09 on Friday. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26. The firm has a market cap of $121.81 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a 50-day simple moving average of $536.54 and a two-hundred day simple moving average of $529.86.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm earned $9.04 earnings per share. On average, equities analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.