Brave Warrior Advisors LLC Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Brave Warrior Advisors LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,629,977 shares of the company’s stock after selling 11,436 shares during the quarter. Elevance Health comprises approximately 15.0% of Brave Warrior Advisors LLC’s holdings, making the stock its largest holding. Brave Warrior Advisors LLC owned 0.70% of Elevance Health worth $601,299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ELV. Accredited Wealth Management LLC bought a new position in shares of Elevance Health in the 4th quarter worth $25,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Elevance Health during the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC purchased a new stake in Elevance Health in the fourth quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the 4th quarter worth approximately $30,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

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

Elevance Health Stock Performance

NYSE:ELV opened at $409.73 on Monday. The firm has a 50 day simple moving average of $422.21 and a 200-day simple moving average of $404.69. 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 cap of $92.57 billion, a PE ratio of 16.00, a P/E/G ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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. The company 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, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders 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 yield of 1.67%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s payout ratio is 26.69%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Mizuho boosted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Baird R W cut Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $510.38.

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.