Focus Partners Wealth Has $7.92 Million Position in Elevance Health, Inc. (NYSE:ELV)

Focus Partners Wealth cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,464 shares of the company’s stock after selling 961 shares during the quarter. Focus Partners Wealth’s holdings in Elevance Health were worth $7,921,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Tobam increased its position in Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in shares of Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares in the last quarter. Austin Private Wealth LLC increased its holdings in shares of Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after purchasing an additional 29 shares in the last quarter. Quent Capital LLC lifted its holdings in Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after buying an additional 30 shares in the last quarter. Finally, RDA Financial Network lifted its holdings in Elevance Health by 0.5% during the 4th quarter. RDA Financial Network now owns 6,384 shares of the company’s stock worth $2,355,000 after buying an additional 32 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. 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. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several research reports. Wells Fargo & Company lowered their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Barclays lifted their target price on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Baird R W cut Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $510.38.

Elevance Health Stock Performance

ELV stock opened at $375.07 on Wednesday. The business’s 50-day moving average price is $423.94 and its two-hundred day moving average price is $404.14. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market cap of $84.74 billion, a PE ratio of 14.65, a P/E/G 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.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping 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 return on equity of 18.28% and a net margin of 3.38%. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued 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 1.82%. Elevance Health’s dividend payout ratio is presently 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.