Machina Capital S.A.S. Sells 1,510 Shares of Elevance Health, Inc. (NYSE:ELV)

Machina Capital S.A.S. decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 41.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,155 shares of the company’s stock after selling 1,510 shares during the period. Machina Capital S.A.S.’s holdings in Elevance Health were worth $1,016,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Elevance Health by 34.3% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 466 shares of the company’s stock valued at $203,000 after purchasing an additional 119 shares during the period. Verdence Capital Advisors LLC raised its position in shares of Elevance Health by 7.9% in the third quarter. Verdence Capital Advisors LLC now owns 15,445 shares of the company’s stock valued at $6,725,000 after purchasing an additional 1,132 shares during the period. BluePath Capital Management LLC bought a new stake in shares of Elevance Health in the third quarter valued at approximately $98,000. Hikari Power Ltd bought a new stake in shares of Elevance Health in the third quarter valued at approximately $222,000. Finally, IFM Investors Pty Ltd raised its position in shares of Elevance Health by 3.2% in the third quarter. IFM Investors Pty Ltd now owns 49,915 shares of the company’s stock valued at $21,734,000 after purchasing an additional 1,556 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.2 %

Shares of Elevance Health stock traded up $6.24 during trading on Tuesday, reaching $536.17. The company’s stock had a trading volume of 682,844 shares, compared to its average volume of 1,042,446. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The company has a market cap of $124.62 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.16 and a beta of 0.79. The firm’s 50-day moving average is $514.01 and its two-hundred day moving average is $489.68. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the prior year, the company earned $9.46 EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 37.26 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 issued a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. UBS Group boosted their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Mizuho boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction 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 directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’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 completion of the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 on 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 transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

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.