Elevance Health, Inc. (NYSE:ELV) Shares Sold by Cypress Advisory Group LLC

Cypress Advisory Group LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 27.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,517 shares of the company’s stock after selling 1,317 shares during the period. Elevance Health makes up about 1.4% of Cypress Advisory Group LLC’s holdings, making the stock its 23rd biggest holding. Cypress Advisory Group LLC’s holdings in Elevance Health were worth $1,530,000 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. CIBC Private Wealth Group LLC increased its stake in 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 acquiring an additional 326,543 shares during the last quarter. VELA Investment Management LLC grew its holdings in shares of Elevance Health by 101.6% during the 4th 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 period. Mn Services Vermogensbeheer B.V. increased its position in Elevance Health by 2.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 93,000 shares of the company’s stock worth $34,308,000 after purchasing an additional 2,300 shares in the last quarter. Allworth Financial LP increased its position in Elevance Health by 103.9% during the 4th quarter. Allworth Financial LP now owns 2,688 shares of the company’s stock worth $1,050,000 after purchasing an additional 1,370 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Elevance Health by 16.4% in the fourth quarter. Van ECK Associates Corp now owns 14,884 shares of the company’s stock valued at $5,491,000 after buying an additional 2,102 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird reiterated a “neutral” rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial set a $500.00 price objective on Elevance Health and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, Barclays decreased their target price on Elevance Health from $522.00 to $480.00 and set an “overweight” rating for the company in a research report on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $498.87.

Elevance Health Stock Performance

Shares of ELV opened at $384.49 on Monday. The firm has a market cap of $86.87 billion, a price-to-earnings ratio of 15.01, 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 business’s 50 day moving average is $404.71 and its two-hundred day moving average is $400.15. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26.

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

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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.