MGO One Seven LLC Sells 248 Shares of Elevance Health, Inc. (NYSE:ELV)

MGO One Seven LLC reduced its position in Elevance Health, Inc. (NYSE:ELV) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,413 shares of the company’s stock after selling 248 shares during the quarter. MGO One Seven LLC’s holdings in Elevance Health were worth $890,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new stake in Elevance Health during the 4th quarter worth approximately $29,000. Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health in the fourth quarter worth $30,000. Finally, Crews Bank & Trust acquired a new stake in shares of Elevance Health during the fourth quarter worth $34,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on ELV shares. Baird R W cut Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Royal Bank of Canada restated an “outperform” rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $509.44.

Insider Buying and Selling

In other news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at $8,061,809.14. The trade was a 19.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value 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 represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,535 shares of company stock worth $3,521,612. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Down 1.7 %

Elevance Health stock opened at $421.55 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock has a market capitalization of $95.43 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The business has a 50 day simple moving average of $420.00 and a 200-day simple moving average of $407.89. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

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

Elevance Health Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend 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.