Yacktman Asset Management LP Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Yacktman Asset Management LP trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,855 shares of the company’s stock after selling 2,765 shares during the period. Elevance Health accounts for approximately 1.9% of Yacktman Asset Management LP’s holdings, making the stock its 20th largest position. Yacktman Asset Management LP owned about 0.16% of Elevance Health worth $201,493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sanders Capital LLC increased its stake in shares of Elevance Health by 4.6% in the 4th quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after purchasing an additional 196,010 shares in the last quarter. Capital International Investors increased its stake in Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after buying an additional 123,802 shares in the last quarter. Norges Bank purchased a new stake in Elevance Health in the 4th quarter worth $1,347,434,000. The Manufacturers Life Insurance Company increased its stake in Elevance Health by 6.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,863,601 shares of the company’s stock worth $878,800,000 after buying an additional 110,462 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Elevance Health by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,860,723 shares of the company’s stock worth $877,412,000 after buying an additional 11,093 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Baird R W upgraded Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. TD Cowen dropped their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, Truist Financial increased their price target on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $604.29.

Elevance Health Trading Down 1.0 %

NYSE ELV traded down $5.29 during trading on Thursday, hitting $542.02. The stock had a trading volume of 223,278 shares, compared to its average volume of 1,014,562. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $125.98 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 1.22 and a beta of 0.84. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26. The stock has a 50 day simple moving average of $533.60 and a 200 day simple moving average of $526.15.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $9.04 earnings per share. Sell-side analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Transactions at Elevance Health

In other news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is currently owned by company 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.