Bryn Mawr Capital Management LLC Reduces Position in Elevance Health, Inc. (NYSE:ELV)

Bryn Mawr Capital Management LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,439 shares of the company’s stock after selling 85 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Elevance Health were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Elevance Health during the 3rd quarter valued at $25,000. Alaska Permanent Fund Corp purchased a new position in shares of Elevance Health during the 4th quarter valued at $31,000. ORG Partners LLC purchased a new position in shares of Elevance Health during the 4th quarter valued at $40,000. Orion Capital Management LLC purchased a new position in shares of Elevance Health during the 3rd quarter valued at $46,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Elevance Health during the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock opened at $537.26 on Friday. The stock has a market cap of $124.87 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The firm has a 50-day moving average of $511.89 and a two-hundred day moving average of $486.40.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm posted $9.46 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company lifted their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Finally, Royal Bank of Canada boosted their target price on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health Company 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.