Elevance Health, Inc. $ELV Shares Sold by Fisher Funds Management LTD

Fisher Funds Management LTD trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 14.5% in the 1st quarter, HoldingsChannel reports. The firm owned 18,372 shares of the company’s stock after selling 3,120 shares during the period. Fisher Funds Management LTD’s holdings in Elevance Health were worth $5,378,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Elevance Health in the 4th quarter valued at about $1,058,165,000. Wellington Management Group LLP grew its position in shares of Elevance Health by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after buying an additional 1,668,679 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Elevance Health by 27.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after buying an additional 1,607,274 shares during the period. Invesco Ltd. increased its stake in shares of Elevance Health by 50.3% during the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock worth $1,368,505,000 after buying an additional 1,306,390 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Elevance Health by 79.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock valued at $844,371,000 after acquiring an additional 1,065,065 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Bank of America increased their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Leerink Partners set a $364.00 price objective on shares of Elevance Health in a report on Thursday, April 23rd. Truist Financial lifted their price objective on shares of Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. 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. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $416.11.

Elevance Health Price Performance

ELV stock opened at $388.77 on Monday. The business has a 50 day moving average price of $375.30 and a 200 day moving average price of $347.03. The stock has a market cap of $84.43 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 2.20 and a beta of 0.67. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $426.98. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating the consensus estimate of $10.74 by $1.84. The company had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 29.26%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s 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 completion of the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company’s stock.

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.