Aptus Capital Advisors LLC Sells 27,660 Shares of Elevance Health, Inc. (NYSE:ELV)

Aptus Capital Advisors LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 88.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,633 shares of the company’s stock after selling 27,660 shares during the period. Aptus Capital Advisors LLC’s holdings in Elevance Health were worth $1,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Elevance Health by 4.5% during the third quarter. Principal Financial Group Inc. now owns 272,649 shares of the company’s stock valued at $141,777,000 after acquiring an additional 11,646 shares in the last quarter. Pensionfund Sabic boosted its stake in shares of Elevance Health by 59.0% during the 4th quarter. Pensionfund Sabic now owns 4,850 shares of the company’s stock valued at $1,789,000 after purchasing an additional 1,800 shares in the last quarter. Fortem Financial Group LLC increased its position in shares of Elevance Health by 1.9% during the fourth quarter. Fortem Financial Group LLC now owns 2,355 shares of the company’s stock valued at $869,000 after buying an additional 44 shares during the period. Diversified Trust Co raised its stake in Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after buying an additional 2,725 shares in the last quarter. Finally, First County Bank CT purchased a new stake in Elevance Health in the fourth quarter worth about $290,000. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ELV shares. Guggenheim reissued a “buy” rating and issued a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Argus set a $465.00 price target on Elevance Health in a research note on Friday, April 25th. Robert W. Baird reissued a “neutral” rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their target price 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. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $510.38.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction dated 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 directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This represents a 19.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’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 transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,535 shares of company stock valued at $3,521,612. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $416.41 on Tuesday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $94.08 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The business has a 50 day moving average price of $422.81 and a two-hundred day moving average price of $404.59.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.64%. Elevance Health’s payout ratio is 26.69%.

Elevance Health Company 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.