Elevance Health, Inc. (NYSE:ELV) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. reduced its position in Elevance Health, Inc. (NYSE:ELV) by 16.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,132 shares of the company’s stock after selling 3,249 shares during the period. Baird Financial Group Inc.’s holdings in Elevance Health were worth $5,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC boosted its stake in shares of Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after acquiring an additional 52 shares in the last quarter. Czech National Bank boosted its position in Elevance Health by 6.5% during the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after purchasing an additional 3,049 shares in the last quarter. JB Capital LLC grew its holdings in Elevance Health by 597.2% in the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock valued at $3,462,000 after purchasing an additional 8,038 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock valued at $276,073,000 after buying an additional 326,543 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE lifted its position in shares of Elevance Health by 15.8% during the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company’s stock valued at $11,837,000 after buying an additional 4,372 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

ELV stock opened at $413.01 on Friday. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-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 stock has a market cap of $93.31 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The business has a fifty day moving average of $424.00 and a two-hundred day moving average of $404.69.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The stock was 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 directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,535 shares of company stock worth $3,521,612 over the last ninety days. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ELV. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Mizuho raised their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Truist Financial raised their target price on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $510.38.

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.