Elevance Health, Inc. (NYSE:ELV) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.1% in the fourth quarter, Holdings Channel reports. The firm owned 32,214 shares of the company’s stock after selling 35 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Elevance Health were worth $11,884,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ELV. Cypress Wealth Services LLC grew its position in Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in Elevance Health by 4.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares in the last quarter. Lifeworks Advisors LLC increased its stake in Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after buying an additional 25 shares during the period. Bell Investment Advisors Inc boosted its position in Elevance Health by 2.6% in the 2nd quarter. Bell Investment Advisors Inc now owns 1,029 shares of the company’s stock valued at $557,000 after buying an additional 26 shares during the last quarter. Finally, Catalyst Financial Partners LLC grew its stake in shares of Elevance Health by 2.9% during the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 1.2 %

Elevance Health stock traded up $4.65 during trading hours on Friday, hitting $387.89. The company had a trading volume of 504,174 shares, compared to its average volume of 1,261,954. The firm’s fifty day moving average is $392.04 and its 200-day moving average is $473.32. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The firm has a market capitalization of $89.96 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $8.99 earnings per share. On average, research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Analyst Ratings Changes

ELV has been the topic of several recent analyst reports. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays dropped their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Morgan Stanley lowered their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Truist Financial reduced their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $536.53.

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.