B. Riley Wealth Advisors Inc. Cuts Stake in Elevance Health, Inc. (NYSE:ELV)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,014 shares of the company’s stock after selling 557 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Elevance Health were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ELV. JB Capital LLC boosted its position in shares of Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock valued at $3,462,000 after acquiring an additional 8,038 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Elevance Health by 82.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock valued at $276,073,000 after acquiring an additional 326,543 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE boosted 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 acquiring an additional 4,372 shares during the last quarter. VELA Investment Management LLC boosted its position in shares of Elevance Health by 101.6% during the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock valued at $765,000 after acquiring an additional 1,045 shares during the last quarter. Finally, Cambiar Investors LLC bought a new stake in Elevance Health in the fourth quarter worth $45,614,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health 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 transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The shares were 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 owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents 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.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $375.73 on Wednesday. The firm has a market cap of $84.89 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.18 and a beta of 0.66. 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, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The stock’s fifty day moving average price is $417.18 and its 200-day moving average price is $402.16.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 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 return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.82%. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays raised their price target on Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Guggenheim restated a “buy” rating and issued a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Mizuho raised their price target on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $510.38.

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.