Toronto Dominion Bank Sells 12,576 Shares of Elevance Health, Inc. (NYSE:ELV)

Toronto Dominion Bank lowered its position in Elevance Health, Inc. (NYSE:ELV) by 10.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 108,814 shares of the company’s stock after selling 12,576 shares during the quarter. Toronto Dominion Bank’s holdings in Elevance Health were worth $40,139,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock worth $7,926,028,000 after acquiring an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Elevance Health by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock worth $3,917,004,000 after purchasing an additional 464,137 shares in the last quarter. Wellington Management Group LLP boosted its stake in Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. Geode Capital Management LLC grew its holdings in Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock valued at $1,826,447,000 after buying an additional 115,971 shares in the last quarter. Finally, Sanders Capital LLC raised its position in shares of Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock valued at $1,728,722,000 after buying an additional 76,896 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 3.4%

Shares of ELV opened at $403.20 on Friday. 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 business has a fifty day moving average of $422.47 and a 200 day moving average of $403.66. The company has a market cap of $91.10 billion, a PE ratio of 15.74, a P/E/G ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last released its earnings results 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 firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. On average, sell-side analysts expect 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 paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s payout ratio is currently 26.69%.

Insider Buying and Selling at Elevance Health

In related 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 transaction, the chief financial officer now owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction dated 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock worth $3,521,612 over the last 90 days. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ELV shares. Guggenheim reaffirmed a “buy” rating and set a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Robert W. Baird reiterated a “neutral” rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Barclays raised their price target on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Finally, Mizuho upped their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.