Snowden Capital Advisors LLC Sells 533 Shares of Elevance Health, Inc. (NYSE:ELV)

Snowden Capital Advisors LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 19.8% during the fourth quarter, Holdings Channel reports. The firm owned 2,164 shares of the company’s stock after selling 533 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Elevance Health were worth $798,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Wealthcare Advisory Partners LLC boosted its stake in shares of Elevance Health by 40.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,138 shares of the company’s stock worth $789,000 after acquiring an additional 621 shares during the period. Merit Financial Group LLC boosted its position in Elevance Health by 6.0% during the fourth quarter. Merit Financial Group LLC now owns 3,418 shares of the company’s stock worth $1,261,000 after purchasing an additional 192 shares during the period. Arkadios Wealth Advisors boosted its position in Elevance Health by 11.5% during the fourth quarter. Arkadios Wealth Advisors now owns 1,107 shares of the company’s stock worth $408,000 after purchasing an additional 114 shares during the period. Grove Bank & Trust increased its holdings in shares of Elevance Health by 354.1% in the fourth quarter. Grove Bank & Trust now owns 2,575 shares of the company’s stock valued at $950,000 after purchasing an additional 2,008 shares during the last quarter. Finally, Client 1ST Advisory Group LLC bought a new position in shares of Elevance Health in the fourth quarter valued at about $312,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated 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 sale, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,535 shares of company stock worth $3,521,612 in the last three months. 0.29% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Elevance Health stock opened at $403.38 on Tuesday. 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 52 week low of $357.45 and a 52 week high of $567.26. The stock has a market capitalization of $91.14 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The stock has a fifty day moving average of $422.29 and a 200-day moving average of $403.57.

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, beating analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share 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 issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Robert W. Baird reissued a “neutral” rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Baird R W cut Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Argus set a $465.00 price target on Elevance Health in a research note on Friday, April 25th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Truist Financial boosted their target price on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $510.38.

Elevance Health 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.