Bremer Bank National Association Has $778,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Bremer Bank National Association cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,788 shares of the company’s stock after selling 56 shares during the quarter. Bremer Bank National Association’s holdings in Elevance Health were worth $778,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ELV. JB Capital LLC lifted its position in Elevance Health by 597.2% in the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after purchasing an additional 8,038 shares during the period. CIBC Private Wealth Group LLC increased its stake in Elevance Health by 82.9% in the fourth 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 period. VELA Investment Management LLC lifted its stake in Elevance Health by 101.6% during the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock worth $765,000 after purchasing an additional 1,045 shares during the period. Cambiar Investors LLC acquired a new stake in Elevance Health during the fourth quarter valued at approximately $45,614,000. Finally, E. Ohman J or Asset Management AB raised its holdings in shares of Elevance Health by 11.1% in the 4th quarter. E. Ohman J or Asset Management AB now owns 10,440 shares of the company’s stock worth $3,851,000 after buying an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Baird R W downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Truist Financial lifted their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Finally, Robert W. Baird reissued a “neutral” rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $499.53.

Elevance Health Price Performance

Elevance Health stock opened at $377.08 on Tuesday. The company has a market capitalization of $85.20 billion, a price-to-earnings ratio of 14.72, a PEG 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 50 day moving average is $413.40 and its 200-day moving average is $401.21.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Equities research analysts expect 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. Investors of record on Tuesday, June 10th will be given 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 1.81%. Elevance Health’s dividend payout ratio is 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.