Elevance Health, Inc. (NYSE:ELV) Stock Position Reduced by Ellevest Inc.

Ellevest Inc. decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 28.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 833 shares of the company’s stock after selling 330 shares during the quarter. Ellevest Inc.’s holdings in Elevance Health were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ELV. 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 worth $141,777,000 after acquiring an additional 11,646 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Elevance Health by 3.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,166 shares of the company’s stock worth $7,808,000 after purchasing an additional 739 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in shares of Elevance Health by 56.3% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,322 shares of the company’s stock worth $488,000 after purchasing an additional 476 shares in the last quarter. Czech National Bank lifted its holdings in shares of Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after buying an additional 3,049 shares during the last quarter. Finally, Fiduciary Alliance LLC grew its stake in shares of Elevance Health by 701.9% in the 4th quarter. Fiduciary Alliance LLC now owns 4,956 shares of the company’s stock valued at $1,828,000 after buying an additional 4,338 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. The trade was a 19.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,535 shares of company stock worth $3,521,612. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent research reports. Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Truist Financial lifted their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus set a $465.00 price target on Elevance Health in a research report on Friday, April 25th. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $510.38.

Elevance Health Trading Down 1.9 %

Shares of ELV stock opened at $404.52 on Friday. The firm has a market capitalization of $91.40 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm’s fifty day simple moving average is $424.13 and its 200 day simple moving average is $404.51. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $46.26 billion. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.69%. Elevance Health’s dividend payout ratio is currently 26.69%.

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.