Elevance Health, Inc. (NYSE:ELV) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 34.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,629 shares of the company's stock after selling 50,428 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Elevance Health were worth $35,646,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Syon Capital LLC boosted its stake in shares of Elevance Health by 1.3% in the fourth quarter. Syon Capital LLC now owns 3,698 shares of the company's stock worth $1,364,000 after buying an additional 49 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Elevance Health by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after buying an additional 464,137 shares during the period. Alta Advisers Ltd increased its holdings in Elevance Health by 28.5% in the fourth quarter. Alta Advisers Ltd now owns 771 shares of the company's stock valued at $284,000 after buying an additional 171 shares in the last quarter. Eversept Partners LP boosted its stake in shares of Elevance Health by 49.9% during the 4th quarter. Eversept Partners LP now owns 29,178 shares of the company's stock worth $10,764,000 after acquiring an additional 9,713 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Elevance Health by 4.5% in the 4th quarter. Hsbc Holdings PLC now owns 760,804 shares of the company's stock worth $280,793,000 after purchasing an additional 32,736 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 in the last ninety days. Insiders own 0.29% of the company's stock.

Elevance Health Trading Down 2.0 %

Shares of NYSE ELV traded down $8.27 during trading on Monday, hitting $413.41. 1,534,501 shares of the company were exchanged, compared to its average volume of 1,460,436. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a fifty day moving average price of $420.00 and a 200-day moving average price of $407.30. The firm has a market capitalization of $93.40 billion, a PE ratio of 16.14, a P/E/G ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued 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 1.65%. Elevance Health's payout ratio is currently 26.69%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wells Fargo & Company dropped their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Guggenheim reissued a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Baird R W cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Stephens cut shares of 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. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $509.44.

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.