Whittier Trust Co. of Nevada Inc. Increases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Whittier Trust Co. of Nevada Inc. boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,816 shares of the company’s stock after acquiring an additional 1,010 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Elevance Health were worth $16,448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ELV. Vanguard Group Inc. boosted its stake in shares of Elevance Health by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock valued at $7,926,028,000 after buying an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $3,917,004,000 after buying an additional 464,137 shares during the period. Wellington Management Group LLP boosted its stake in shares of Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after buying an additional 1,893,947 shares during the period. Geode Capital Management LLC boosted its stake in shares of Elevance Health by 2.4% in 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 during the period. Finally, Sanders Capital LLC boosted its stake in shares of Elevance Health by 1.7% in the 4th 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 period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Trading Down 0.3%

NYSE:ELV opened at $339.77 on Tuesday. The firm has a market cap of $76.77 billion, a P/E ratio of 13.26, a PEG ratio of 0.87 and a beta of 0.60. 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 stock’s 50 day simple moving average is $379.34 and its 200-day simple moving average is $397.52. Elevance Health, Inc. has a 12-month low of $335.17 and a 12-month 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, beating analysts’ consensus estimates 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 18.61% and a net margin of 3.23%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

Insider Activity 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 completion of the sale, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ELV shares. Argus set a $465.00 price objective on Elevance Health in a research note on Friday, April 25th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. UBS Group restated a “buy” rating and set a $484.00 target price (down previously from $555.00) on shares of Elevance Health in a research note on Monday. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Barclays decreased their target price on Elevance Health from $480.00 to $434.00 and set an “overweight” rating for the company in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $491.07.

Elevance Health Company 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.