First National Trust Co Sells 102 Shares of Elevance Health, Inc. (NYSE:ELV)

First National Trust Co decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 12.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 707 shares of the company’s stock after selling 102 shares during the period. First National Trust Co’s holdings in Elevance Health were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ELV. Private Wealth Management Group LLC grew its holdings in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. Accredited Wealth Management LLC purchased a new position in Elevance Health in the fourth quarter worth $25,000. Riverview Trust Co grew its holdings in Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after purchasing an additional 67 shares during the last quarter. North Capital Inc. purchased a new position in Elevance Health in the first quarter worth $36,000. Finally, Berbice Capital Management LLC purchased a new position in Elevance Health in the first quarter worth $43,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ELV shares. Wells Fargo & Company cut their price target on shares of Elevance Health from $478.00 to $400.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their price target on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Mizuho boosted their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Robert W. Baird dropped their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $418.19.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux acquired 8,500 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $283.04 on Friday. The firm’s fifty day moving average is $351.82 and its two-hundred day moving average is $389.87. The firm has a market cap of $63.73 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.08 and a beta of 0.60. Elevance Health, Inc. has a one year low of $274.40 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $10.12 EPS. Research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.4%. Elevance Health’s dividend payout ratio is 29.11%.

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.