Foster & Motley Inc. Sells 84 Shares of Elevance Health, Inc. (NYSE:ELV)

Foster & Motley Inc. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,996 shares of the company’s stock after selling 84 shares during the quarter. Foster & Motley Inc.’s holdings in Elevance Health were worth $941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ELV. OFI Invest Asset Management purchased a new stake in Elevance Health in the third quarter worth about $25,000. ORG Partners LLC bought a new stake in Elevance Health during the 4th quarter worth approximately $40,000. Orion Capital Management LLC purchased a new position in Elevance Health during the third quarter valued at approximately $46,000. Milestone Investment Advisors LLC bought a new position in shares of Elevance Health in the third quarter worth approximately $51,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the fourth quarter worth $56,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Royal Bank of Canada upped their price objective on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Wells Fargo & Company lifted their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. UBS Group upped their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Truist Financial reiterated a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. One 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.64.

Insider Buying and Selling

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Up 0.1 %

Shares of NYSE:ELV opened at $532.92 on Wednesday. The company has a market cap of $123.86 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.16 and a beta of 0.78. 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. The company has a 50-day moving average price of $510.23 and a 200 day moving average price of $485.10.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 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 firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the previous year, the business earned $9.46 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend 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.