Quent Capital LLC Has $557,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Quent Capital LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 14.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,280 shares of the company’s stock after selling 208 shares during the quarter. Quent Capital LLC’s holdings in Elevance Health were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ELV. Flagship Harbor Advisors LLC raised its stake in shares of Elevance Health by 29.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 794 shares of the company’s stock valued at $293,000 after acquiring an additional 180 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of Elevance Health by 83.7% in the 4th quarter. Perigon Wealth Management LLC now owns 4,095 shares of the company’s stock valued at $1,578,000 after acquiring an additional 1,866 shares in the last quarter. BSW Wealth Partners raised its stake in shares of Elevance Health by 42.1% in the 4th quarter. BSW Wealth Partners now owns 709 shares of the company’s stock valued at $262,000 after acquiring an additional 210 shares in the last quarter. Swedbank AB raised its stake in shares of Elevance Health by 26.9% in the 4th quarter. Swedbank AB now owns 179,727 shares of the company’s stock valued at $66,301,000 after acquiring an additional 38,086 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Elevance Health in the 4th quarter valued at approximately $3,374,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV stock opened at $379.99 on Friday. The stock’s fifty day simple moving average is $415.24 and its 200 day simple moving average is $401.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market cap of $85.85 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26.

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 business 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, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio is 26.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ELV shares. Royal Bank of Canada reissued an “outperform” rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Guggenheim reissued a “buy” rating and issued a $518.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Barclays lifted 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. Four research 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 has a consensus rating of “Moderate Buy” and an average target price of $510.38.

Insider Activity at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now 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 hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock valued at $3,521,612 in the last 90 days. 0.29% of the stock is owned by corporate insiders.

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.