Elevance Health, Inc. $ELV Shares Sold by Virtue Capital Management LLC

Virtue Capital Management LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 25.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 795 shares of the company’s stock after selling 277 shares during the quarter. Virtue Capital Management LLC’s holdings in Elevance Health were worth $309,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hemington Wealth Management increased its holdings in Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after purchasing an additional 27 shares during the last quarter. Aspen Investment Management Inc grew its position in shares of Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after buying an additional 27 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in shares of Elevance Health by 5.3% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock worth $261,000 after buying an additional 30 shares during the last quarter. Regatta Capital Group LLC raised its holdings in Elevance Health by 3.0% in the second quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock valued at $405,000 after acquiring an additional 30 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Elevance Health by 1.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock valued at $934,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $332.15 on Friday. The company has a 50 day moving average of $333.18 and a 200-day moving average of $335.91. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $73.82 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The company had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.37 EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. Elevance Health’s dividend payout ratio is currently 27.96%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group assumed coverage on Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target for the company. Barclays reduced their price objective on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of Elevance Health in a research report on Wednesday. Finally, Morgan Stanley increased their price objective on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a report on Tuesday, October 14th. Twelve analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Hold” and a consensus target price of $398.44.

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.