Elevance Health, Inc. (NYSE:ELV) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 12,477 shares of the company’s stock after selling 272 shares during the quarter. Private Advisor Group LLC’s holdings in Elevance Health were worth $5,883,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Elevance Health in the 3rd quarter valued at $25,000. Alaska Permanent Fund Corp purchased a new position in Elevance Health during the 4th quarter worth $31,000. Hexagon Capital Partners LLC raised its position in Elevance Health by 63.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after buying an additional 29 shares during the last quarter. ORG Partners LLC purchased a new position in Elevance Health during the 4th quarter worth $40,000. Finally, Orion Capital Management LLC purchased a new position in shares of Elevance Health in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Trading Down 0.5 %

ELV opened at $533.35 on Thursday. The firm has a market capitalization of $123.96 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.16 and a beta of 0.79. The firm’s 50 day moving average is $514.57 and its 200-day moving average is $490.26. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $9.46 earnings per share. Analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ELV. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Mizuho raised their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group increased their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Finally, Truist Financial reiterated a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $587.42.

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.