Stonebridge Capital Advisors LLC Sells 176 Shares of Elevance Health, Inc. (NYSE:ELV)

Stonebridge Capital Advisors LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,445 shares of the company’s stock after selling 176 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Elevance Health were worth $1,640,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Flagship Wealth Advisors LLC bought a new position in Elevance Health during the 4th quarter valued at $26,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health during the fourth quarter valued at about $29,000. Lee Danner & Bass Inc. purchased a new position in Elevance Health during the fourth quarter worth about $30,000. OFI Invest Asset Management bought a new stake in Elevance Health in the 4th quarter worth about $29,000. Finally, Crews Bank & Trust purchased a new stake in Elevance Health in the 4th quarter valued at about $34,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Performance

Shares of ELV opened at $427.64 on Thursday. 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 market capitalization of $96.81 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock’s 50-day simple moving average is $418.43 and its 200 day simple moving average is $409.38.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The company had revenue of $48.77 billion during 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio is 26.71%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Mizuho increased their price target on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Barclays raised their target price on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday. Finally, Robert W. Baird reissued a “neutral” rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $509.44.

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.