Trust Co of Kansas Takes Position in Elevance Health, Inc. (NYSE:ELV)

Trust Co of Kansas bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 475 shares of the company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Elevance Health in the fourth quarter valued at $1,135,014,000. Wellington Management Group LLP boosted its holdings in shares of Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after buying an additional 1,893,947 shares during the period. GAMMA Investing LLC grew its stake in Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock valued at $641,355,000 after buying an additional 1,472,712 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after acquiring an additional 1,039,612 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its position in Elevance Health by 6,817.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after acquiring an additional 895,658 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ELV. Baird R W downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Argus set a $465.00 price objective on Elevance Health in a report on Friday, April 25th. Robert W. Baird reiterated a “neutral” rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Royal Bank Of Canada reissued an “outperform” rating and issued a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. Finally, Guggenheim restated a “buy” rating and issued a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $498.87.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $376.48 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The company has a market cap of $85.06 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60. The company has a 50 day moving average of $396.08 and a 200-day moving average of $398.93. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year 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 for the quarter, topping the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. As a group, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. 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 is presently 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 that occurred on 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

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.