Elevance Health, Inc. (NYSE:ELV) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its position in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,840 shares of the company’s stock after selling 328 shares during the period. Hartford Investment Management Co.’s holdings in Elevance Health were worth $7,470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ELV. Fortis Capital Advisors LLC acquired a new stake in Elevance Health in the fourth quarter worth $29,000. TD Capital Management LLC acquired a new stake in Elevance Health in the fourth quarter worth $30,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the third quarter worth $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Elevance Health in the third quarter worth $30,000. Finally, Tyler Stone Wealth Management acquired a new stake in Elevance Health in the second quarter worth $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ELV. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada increased their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Cantor Fitzgerald raised their target price on Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, Barclays started coverage on Elevance Health in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price target for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $569.36.

Get Our Latest Analysis on Elevance Health

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Up 0.9 %

NYSE ELV traded up $4.30 during trading hours on Wednesday, hitting $503.52. 413,546 shares of the company traded hands, compared to its average volume of 1,020,326. The business’s 50-day moving average is $504.62 and its 200-day moving average is $477.90. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $521.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $117.17 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 1.13 and a beta of 0.78.

Elevance Health (NYSE:ELVGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. During the same quarter last year, the company earned $5.23 EPS. The company’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Elevance Health, Inc. will post 37.16 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, March 7th. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.29%. Elevance Health’s payout ratio is presently 25.90%.

Elevance Health Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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