Sapient Capital LLC Sells 41 Shares of Elevance Health, Inc. (NYSE:ELV)

Sapient Capital LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,580 shares of the company’s stock after selling 41 shares during the period. Sapient Capital LLC’s holdings in Elevance Health were worth $1,557,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in Elevance Health by 2.5% in the 1st quarter. Fifth Third Bancorp now owns 16,607 shares of the company’s stock worth $7,223,000 after purchasing an additional 409 shares during the period. Simon Quick Advisors LLC purchased a new position in shares of Elevance Health in the first quarter worth $336,000. Axecap Investments LLC bought a new position in shares of Elevance Health during the first quarter worth $1,131,000. Leonard Rickey Investment Advisors P.L.L.C. grew its stake in Elevance Health by 11.7% during the first quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,185 shares of the company’s stock valued at $523,000 after acquiring an additional 124 shares in the last quarter. Finally, CX Institutional grew its stake in Elevance Health by 72.0% during the first quarter. CX Institutional now owns 1,486 shares of the company’s stock valued at $646,000 after acquiring an additional 622 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ELV. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Finally, Mizuho upped their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $498.87.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Up 1.4%

NYSE ELV opened at $386.16 on Friday. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The firm has a market capitalization of $87.25 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.18 and a beta of 0.60. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $405.63 and a two-hundred day moving average of $400.31.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio is currently 26.69%.

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.