RWC Asset Management LLP Trims Stake in Elevance Health, Inc. (NYSE:ELV)

RWC Asset Management LLP lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 85.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,045 shares of the company’s stock after selling 5,966 shares during the quarter. RWC Asset Management LLP’s holdings in Elevance Health were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ELV. International Assets Investment Management LLC increased its position in shares of Elevance Health by 45,888.1% during the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after buying an additional 255,138 shares during the period. Assenagon Asset Management S.A. boosted its stake in Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock worth $159,726,000 after acquiring an additional 249,533 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Elevance Health by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock worth $279,063,000 after acquiring an additional 234,439 shares in the last quarter. Schroder Investment Management Group boosted its stake in Elevance Health by 18.2% during the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock worth $579,493,000 after acquiring an additional 204,715 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Elevance Health by 59.3% during the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock worth $214,011,000 after acquiring an additional 182,889 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV traded down $2.42 during mid-day trading on Friday, hitting $537.26. 700,726 shares of the company traded hands, compared to its average volume of 1,135,198. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a 50-day moving average price of $511.89 and a two-hundred day moving average price of $486.40. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The stock has a market cap of $124.87 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 1.19 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the previous year, the company earned $9.46 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ELV shares. Royal Bank of Canada boosted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Barclays upped their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. UBS Group upped their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Mizuho upped their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $587.42.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

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.