Lazard Asset Management LLC Sells 7,120 Shares of Elevance Health, Inc. (NYSE:ELV)

Lazard Asset Management LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 15.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,839 shares of the company’s stock after selling 7,120 shares during the period. Lazard Asset Management LLC’s holdings in Elevance Health were worth $14,695,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. Accredited Wealth Management LLC bought a new position in Elevance Health in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter worth $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health in the fourth quarter worth approximately $29,000. WealthTrak Capital Management LLC bought a new position in Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health during the fourth quarter valued at about $30,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

ELV opened at $375.07 on Wednesday. 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 company has a market cap of $84.74 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.18 and a beta of 0.66. The company’s 50 day moving average is $423.94 and its 200 day moving average is $404.14. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the firm’s 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 sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s 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 sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 over the last quarter. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ELV. Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Barclays lifted their price target on shares of Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Truist Financial lifted their price objective 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, Guggenheim reaffirmed a “buy” rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $510.38.

Elevance Health 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.