Elevance Health, Inc. (NYSE:ELV) Shares Sold by Capital Analysts LLC

Capital Analysts LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 97.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 542 shares of the company’s stock after selling 21,071 shares during the quarter. Capital Analysts LLC’s holdings in Elevance Health were worth $200,000 as of its most recent SEC filing.

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

Elevance Health Stock Down 2.0 %

ELV stock opened at $413.41 on Tuesday. The company has a market cap of $93.40 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.18 and a beta of 0.77. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a 50-day moving average of $420.43 and a two-hundred day moving average of $406.68.

Elevance Health (NYSE:ELV) last posted its quarterly 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 business had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. As a group, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.65%. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Mizuho lifted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada restated an “outperform” rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Guggenheim restated a “buy” rating and set a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.38.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,535 shares of company stock valued at $3,521,612 in the last 90 days. Company insiders own 0.29% of the company’s stock.

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.