Intrust Bank NA Purchases 382 Shares of Elevance Health, Inc. (NYSE:ELV)

Intrust Bank NA grew its position in Elevance Health, Inc. (NYSE:ELV) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,896 shares of the company’s stock after purchasing an additional 382 shares during the quarter. Intrust Bank NA’s holdings in Elevance Health were worth $2,309,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Sanders Capital LLC boosted its stake in shares of Elevance Health by 1.4% in the 3rd quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock valued at $1,855,750,000 after purchasing an additional 58,013 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Elevance Health by 0.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after purchasing an additional 27,986 shares during the last quarter. Morgan Stanley boosted its stake in shares of Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after purchasing an additional 46,322 shares during the last quarter. Northern Trust Corp lifted its position in shares of Elevance Health by 2.4% during the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock valued at $1,052,175,000 after acquiring an additional 57,098 shares during the period. Finally, Artisan Partners Limited Partnership lifted its position in shares of Elevance Health by 7.2% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock valued at $1,035,884,000 after acquiring an additional 160,524 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Shares of Elevance Health stock traded down $3.28 on Monday, reaching $533.98. The stock had a trading volume of 639,792 shares, compared to its average volume of 1,052,130. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The company has a market cap of $124.11 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. 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 business’s 50 day moving average is $511.89 and its two-hundred day moving average is $486.85.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $9.46 earnings per share. As a group, research analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on ELV. UBS Group upped their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Barclays increased their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Royal Bank of Canada increased their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company increased their target price on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $587.42.

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.