Stock Yards Bank & Trust Co. Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Stock Yards Bank & Trust Co. reduced its position in Elevance Health, Inc. (NYSE:ELV) by 41.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,616 shares of the company’s stock after selling 5,340 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Elevance Health were worth $3,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ELV. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the 3rd quarter valued at about $25,000. ORG Partners LLC purchased a new stake in shares of Elevance Health in the 4th quarter valued at about $40,000. Orion Capital Management LLC purchased a new stake in shares of Elevance Health in the 3rd quarter valued at about $46,000. Milestone Investment Advisors LLC purchased a new stake in shares of Elevance Health in the 3rd quarter valued at about $51,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the 4th quarter valued at about $56,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on ELV. Wells Fargo & Company upped their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Financial Group upped their price objective on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday. UBS Group upped their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $587.64.

Elevance Health Stock Performance

Shares of ELV stock opened at $532.17 on Tuesday. The company has a market cap of $123.69 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The stock has a 50 day simple moving average of $509.68 and a 200-day simple moving average of $484.51. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the prior year, the business posted $9.46 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts forecast that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

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.