Trust Point Inc. Has $271,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Trust Point Inc. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 24.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 622 shares of the company’s stock after selling 197 shares during the period. Trust Point Inc.’s holdings in Elevance Health were worth $271,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG acquired a new position in shares of Elevance Health during the 1st quarter worth $272,000. Optas LLC bought a new position in Elevance Health in the first quarter valued at about $268,000. Asio Capital LLC raised its stake in Elevance Health by 31.6% during the first quarter. Asio Capital LLC now owns 14,356 shares of the company’s stock worth $6,244,000 after acquiring an additional 3,446 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Elevance Health by 275.3% in the first quarter. Exchange Traded Concepts LLC now owns 8,793 shares of the company’s stock worth $3,825,000 after acquiring an additional 6,450 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Elevance Health by 16.9% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 162,463 shares of the company’s stock valued at $70,665,000 after purchasing an additional 23,453 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the firm’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 transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $375.13 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The company has a 50 day simple moving average of $402.42 and a two-hundred day simple moving average of $399.76. The company has a market capitalization of $84.75 billion, a PE ratio of 14.64, a P/E/G ratio of 0.96 and a beta of 0.60.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share 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 analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. Research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.82%. Elevance Health’s payout ratio is currently 26.69%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Barclays dropped their price target on Elevance Health from $522.00 to $480.00 and set an “overweight” rating for the company in a research note on Monday, June 2nd. Argus set a $465.00 price objective on Elevance Health in a research report on Friday, April 25th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Truist Financial set a $500.00 price target on Elevance Health and gave the company a “buy” rating in a research note on Monday, June 9th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $498.87.

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.