Tilt Investment Management Holdings PBC Sells 301 Shares of Elevance Health, Inc. (NYSE:ELV)

Tilt Investment Management Holdings PBC reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 23.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 963 shares of the company’s stock after selling 301 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in Elevance Health were worth $454,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Elevance Health in the third quarter valued at $25,000. Fortis Capital Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at about $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Elevance Health in the 3rd quarter valued at about $30,000. TD Capital Management LLC acquired a new stake in Elevance Health during the fourth quarter worth approximately $30,000. Finally, Tyler Stone Wealth Management bought a new stake in shares of Elevance Health during the second quarter worth approximately $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ELV shares. Royal Bank of Canada increased their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Barclays began coverage on Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price for the company. Wells Fargo & Company decreased their price target on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $569.00.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by insiders.

Elevance Health Price Performance

Shares of NYSE:ELV traded up $20.80 during midday trading on Thursday, hitting $529.77. The stock had a trading volume of 1,575,496 shares, compared to its average volume of 1,039,914. The company’s 50-day moving average price is $508.17 and its 200-day moving average price is $482.29. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $539.11. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $123.28 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.78.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business had revenue of $42.45 billion for the quarter, compared to analysts’ expectations of $42.19 billion. During the same period last year, the firm posted $5.23 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.03 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.63 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio is currently 25.90%.

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.