Elevance Health, Inc. (NYSE:ELV) Shares Sold by Herold Advisors Inc.

Herold Advisors Inc. decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,282 shares of the company’s stock after selling 67 shares during the period. Herold Advisors Inc.’s holdings in Elevance Health were worth $1,076,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ELV. OFI Invest Asset Management acquired a new position in shares of Elevance Health in the 3rd quarter valued at $25,000. Alaska Permanent Fund Corp acquired a new position in shares of Elevance Health in the 4th quarter valued at $31,000. ORG Partners LLC acquired a new stake in Elevance Health during the 4th quarter worth $40,000. Orion Capital Management LLC acquired a new stake in Elevance Health during the 3rd quarter worth $46,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth $51,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ELV shares. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Wells Fargo & Company raised their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Barclays raised their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $537.26 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $511.89 and a two-hundred day moving average price of $486.40. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The company has a market capitalization of $124.87 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the firm posted $9.46 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts expect that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.21%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

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.