Summit Trail Advisors LLC Cuts Holdings in Elevance Health, Inc. (NYSE:ELV)

Summit Trail Advisors LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,964 shares of the company’s stock after selling 58 shares during the period. Summit Trail Advisors LLC’s holdings in Elevance Health were worth $926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ELV. International Assets Investment Management LLC grew its position in Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after acquiring an additional 255,138 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Elevance Health by 212.7% in the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock worth $159,726,000 after purchasing an additional 249,533 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Elevance Health by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock worth $279,063,000 after purchasing an additional 234,439 shares during the last quarter. Schroder Investment Management Group lifted its stake in Elevance Health by 18.2% in the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock worth $579,493,000 after purchasing an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in Elevance Health by 59.3% in the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock worth $214,011,000 after purchasing an additional 182,889 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the company’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 transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ELV. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. 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 research note on Friday, April 19th. Truist Financial reissued a “buy” rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Barclays lifted their price target on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group lifted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health Stock Performance

NYSE:ELV traded up $2.97 during mid-day trading on Monday, hitting $529.93. The company’s stock had a trading volume of 750,918 shares, compared to its average volume of 1,049,890. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $123.17 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79. The business’s fifty day moving average is $513.54 and its two-hundred day moving average is $489.21.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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 company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same period in the prior year, the company earned $9.46 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

About Elevance Health

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.