Twinbeech Capital LP Sells 126,284 Shares of Elevance Health, Inc. (NYSE:ELV)

Twinbeech Capital LP trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 98.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,930 shares of the company’s stock after selling 126,284 shares during the quarter. Twinbeech Capital LP’s holdings in Elevance Health were worth $712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mutual Advisors LLC lifted its position in shares of Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after purchasing an additional 52 shares during the last quarter. JB Capital LLC lifted its position in shares of Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after purchasing an additional 8,038 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock worth $276,073,000 after purchasing an additional 326,543 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE lifted its position in shares of Elevance Health by 15.8% during the fourth quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company’s stock worth $11,837,000 after purchasing an additional 4,372 shares during the last quarter. Finally, VELA Investment Management LLC lifted its position in shares of Elevance Health by 101.6% during the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock worth $765,000 after purchasing an additional 1,045 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Barclays lifted their price objective on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $510.38.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,535 shares of company stock worth $3,521,612. Insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

ELV opened at $400.09 on Thursday. The business’s 50-day moving average is $421.75 and its two-hundred day moving average is $403.61. Elevance Health, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market capitalization of $90.39 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.71%. Elevance Health’s payout ratio is 26.69%.

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.