Moody National Bank Trust Division Sells 101 Shares of Elevance Health, Inc. (NYSE:ELV)

Moody National Bank Trust Division lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 2.1% in the fourth quarter, Holdings Channel reports. The fund owned 4,694 shares of the company’s stock after selling 101 shares during the quarter. Moody National Bank Trust Division’s holdings in Elevance Health were worth $1,732,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ELV. Iridian Asset Management LLC CT increased its holdings in Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after purchasing an additional 3,786 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares during the period. Benjamin Edwards Inc. raised its holdings in Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after buying an additional 50,603 shares during the last quarter. Diversified Trust Co boosted its position in Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after buying an additional 2,725 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Elevance Health by 5.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock worth $109,127,000 after acquiring an additional 9,916 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 4.2 %

NYSE:ELV traded up $16.11 on Monday, hitting $397.26. The stock had a trading volume of 1,155,951 shares, compared to its average volume of 1,427,861. The company has a market cap of $92.13 billion, a PE ratio of 14.48, a P/E/G ratio of 1.15 and a beta of 0.84. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The business’s fifty day moving average is $391.39 and its 200 day moving average is $471.32. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

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

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, December 5th were issued a $1.63 dividend. The ex-dividend date was Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.64%. Elevance Health’s dividend payout ratio is currently 23.77%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent research reports. Barclays cut their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company lowered their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. UBS Group reduced their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $536.53.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by insiders.

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.