Blue Trust Inc. Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Blue Trust Inc. lowered its position in Elevance Health, Inc. (NYSE:ELVFree Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 950 shares of the company’s stock after selling 37 shares during the quarter. Blue Trust Inc.’s holdings in Elevance Health were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ELV. Roundview Capital LLC lifted its position in shares of Elevance Health by 2.9% during the 1st quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock worth $912,000 after buying an additional 52 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Elevance Health during the 1st quarter worth approximately $251,000. Baird Financial Group Inc. lifted its position in shares of Elevance Health by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock worth $7,305,000 after buying an additional 57 shares during the last quarter. Zions Bancorporation N.A. lifted its position in shares of Elevance Health by 52.1% during the 1st quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock worth $439,000 after buying an additional 306 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Elevance Health by 102.9% during the 1st quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock worth $416,000 after buying an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Cantor Fitzgerald boosted their price objective on shares of Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Royal Bank of Canada lifted their target price on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Barclays assumed coverage on shares of Elevance Health in a report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price on the stock. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $569.36.

Check Out Our Latest Stock Report on Elevance Health

Elevance Health Stock Performance

Shares of ELV opened at $518.54 on Friday. 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 $120.66 billion, a P/E ratio of 20.60, a P/E/G ratio of 1.16 and a beta of 0.78. The company’s fifty day moving average is $503.20 and its two-hundred day moving average is $476.54. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $521.18.

Elevance Health (NYSE:ELVGet Free Report) last issued its earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.23 EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.15 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $1.63 dividend. The ex-dividend date was Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.26%. Elevance Health’s payout ratio is currently 25.90%.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

About Elevance Health

(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.

Read More

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELVFree Report).

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

Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.