Elevance Health, Inc. (NYSE:ELV) Position Lowered by Ellevest Inc.

Ellevest Inc. trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 28.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 833 shares of the company’s stock after selling 330 shares during the period. Ellevest Inc.’s holdings in Elevance Health were worth $307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Elevance Health by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 272,649 shares of the company’s stock valued at $141,777,000 after acquiring an additional 11,646 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Elevance Health by 3.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,166 shares of the company’s stock worth $7,808,000 after purchasing an additional 739 shares during the period. ST Germain D J Co. Inc. raised its holdings in shares of Elevance Health by 56.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,322 shares of the company’s stock worth $488,000 after purchasing an additional 476 shares during the period. Czech National Bank lifted its position in shares of Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after buying an additional 3,049 shares during the last quarter. Finally, Fiduciary Alliance LLC boosted its holdings in shares of Elevance Health by 701.9% in the 4th quarter. Fiduciary Alliance LLC now owns 4,956 shares of the company’s stock valued at $1,828,000 after buying an additional 4,338 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELV. Truist Financial raised their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Guggenheim restated a “buy” rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Argus set a $465.00 price objective on Elevance Health in a research note on Friday, April 25th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $510.38.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $404.52 on Friday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a fifty day moving average price of $424.13 and a two-hundred day moving average price of $404.51. The firm has a market cap of $91.40 billion, a P/E ratio of 15.80, a PEG ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last released its 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 return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Research analysts forecast 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. Shareholders of record on Tuesday, June 10th will be issued 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 1.69%. Elevance Health’s dividend payout ratio is currently 26.69%.

Insider Activity

In related news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,535 shares of company stock worth $3,521,612. Insiders own 0.29% of the company’s stock.

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.