Hancock Whitney Corp Decreases Position in Elevance Health, Inc. (NYSE:ELV)

Hancock Whitney Corp lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 17.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,080 shares of the company’s stock after selling 429 shares during the quarter. Hancock Whitney Corp’s holdings in Elevance Health were worth $767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ELV. Virtu Financial LLC purchased a new position in Elevance Health in the third quarter valued at $2,828,000. Te Ahumairangi Investment Management Ltd increased its holdings in shares of Elevance Health by 39.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company’s stock valued at $5,433,000 after acquiring an additional 2,983 shares during the last quarter. Tudor Financial Inc. acquired a new stake in shares of Elevance Health during the 3rd quarter worth about $235,000. Anchor Investment Management LLC lifted its stake in Elevance Health by 22.9% during the third quarter. Anchor Investment Management LLC now owns 6,098 shares of the company’s stock worth $3,171,000 after purchasing an additional 1,135 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in Elevance Health in the third quarter valued at approximately $8,855,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on ELV shares. Guggenheim reissued a “buy” rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday. Robert W. Baird reissued a “neutral” rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Truist Financial upped their target price on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.44.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on 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 transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Kaye sold 4,588 shares of the company’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 $8,061,809.14. This represents a 19.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock valued at $3,521,612 over the last three months. 0.29% of the stock is owned by corporate insiders.

Elevance Health Trading Down 1.7 %

NYSE ELV opened at $421.55 on Friday. The firm’s 50 day moving average price is $420.00 and its two-hundred day moving average price is $408.48. 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 twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market cap of $95.43 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s payout ratio is presently 26.71%.

About Elevance Health

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.