Empowered Funds LLC Sells 69,221 Shares of Elevance Health, Inc. $ELV

Empowered Funds LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 75.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 22,901 shares of the company’s stock after selling 69,221 shares during the period. Empowered Funds LLC’s holdings in Elevance Health were worth $6,704,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ELV. WealthCollab LLC boosted its stake in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Elevance Health during the 4th quarter valued at about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health in the fourth quarter worth approximately $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Elevance Health during the 4th quarter valued at $38,000. Finally, Main Street Group LTD purchased a new stake in Elevance Health during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares in the company, valued at $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 is available at this hyperlink. 0.34% of the stock is owned by insiders.

Elevance Health Price Performance

NYSE ELV opened at $375.44 on Friday. The business’s fifty day moving average is $397.01 and its 200 day moving average is $356.81. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $436.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $81.42 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter last year, the company earned $8.84 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts predict that Elevance Health, Inc. will post 27.04 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.8%. Elevance Health’s dividend payout ratio is 30.58%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Leerink Partners boosted their price target on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Truist Financial increased their price objective on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a report on Thursday, July 16th. Bank of America boosted their target price on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.