Elevance Health, Inc. (NYSE:ELV) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 22.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84 shares of the company’s stock after selling 25 shares during the quarter. Cambridge Trust Co.’s holdings in Elevance Health were worth $40,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Ninety One UK Ltd lifted its holdings in shares of Elevance Health by 20.7% during the 4th quarter. Ninety One UK Ltd now owns 858,171 shares of the company’s stock valued at $404,679,000 after acquiring an additional 147,103 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Elevance Health by 2.7% during the fourth quarter. Federated Hermes Inc. now owns 42,662 shares of the company’s stock worth $20,118,000 after purchasing an additional 1,128 shares in the last quarter. HF Advisory Group LLC boosted its position in shares of Elevance Health by 29.0% in the fourth quarter. HF Advisory Group LLC now owns 2,962 shares of the company’s stock worth $1,397,000 after buying an additional 665 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Elevance Health by 5.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,992 shares of the company’s stock valued at $7,070,000 after buying an additional 764 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Elevance Health by 6.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 22,545 shares of the company’s stock valued at $10,632,000 after buying an additional 1,346 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction 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 sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ELV shares. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research report on Friday. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. UBS Group raised their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $583.77.

Elevance Health Stock Up 1.2 %

ELV stock opened at $531.59 on Friday. The firm has a market cap of $123.70 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.12 and a beta of 0.78. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $539.11. The firm has a fifty day moving average price of $509.14 and a two-hundred day moving average price of $483.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the prior year, the firm earned $9.46 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 25.90%.

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.