Elevance Health, Inc. (NYSE:ELV) Shares Sold by Sapient Capital LLC

Sapient Capital LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,252 shares of the company’s stock after selling 132 shares during the period. Sapient Capital LLC’s holdings in Elevance Health were worth $2,211,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank & Trust Co acquired a new stake in Elevance Health in the 2nd quarter worth approximately $27,000. Palisade Asset Management LLC acquired a new position in shares of Elevance Health in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the 2nd quarter worth $28,000. Strategic Financial Concepts LLC acquired a new stake in Elevance Health during the 2nd quarter worth about $30,000. Finally, Register Financial Advisors LLC purchased a new stake in Elevance Health during the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock worth $17,588,116 over the last quarter. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Price Performance

ELV traded up $1.26 during trading on Monday, hitting $503.14. The company’s stock had a trading volume of 44,163 shares, compared to its average volume of 1,015,448. The firm has a market capitalization of $116.94 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a twelve month low of $435.99 and a twelve month high of $567.26. The business’s fifty day simple moving average is $531.94 and its 200 day simple moving average is $529.15. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $9.04 EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a dividend of $1.63 per share. The ex-dividend date was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. Elevance Health’s payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ELV. Morgan Stanley initiated coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Truist Financial increased their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research report on Tuesday, October 1st. Finally, Barclays increased their price target on Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $605.07.

Elevance Health 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.