Healthcare of Ontario Pension Plan Trust Fund Sells 128,811 Shares of Elevance Health, Inc. $ELV

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 46.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 147,974 shares of the company’s stock after selling 128,811 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Elevance Health were worth $43,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. WealthCollab LLC grew its stake in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares during the last quarter. Signet Financial Management LLC lifted its position in Elevance Health by 3.5% during the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after acquiring an additional 28 shares during the last quarter. Fulton Breakefield Broenniman LLC boosted its holdings in Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after acquiring an additional 29 shares during the period. Perigon Wealth Management LLC boosted its holdings in Elevance Health by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after acquiring an additional 29 shares during the period. Finally, Savvy Advisors Inc. grew its position in shares of Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after purchasing an additional 30 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred 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 sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Down 0.5%

Shares of ELV opened at $377.39 on Friday. The company has a 50-day simple moving average of $398.69 and a 200-day simple moving average of $356.52. The firm has a market capitalization of $81.84 billion, a P/E ratio of 16.77, a P/E/G ratio of 2.17 and a beta of 0.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $436.24.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the company earned $8.84 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that Elevance Health, Inc. will post 27.04 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ELV. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. TD Cowen raised their target price on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Profile

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.