Elevance Health, Inc. (NYSE:ELV) Shares Sold by Signaturefd LLC

Signaturefd LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 47.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,345 shares of the company’s stock after selling 2,109 shares during the period. Signaturefd LLC’s holdings in Elevance Health were worth $865,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ELV. GSA Capital Partners LLP acquired a new stake in Elevance Health in the third quarter worth $518,000. Quest Partners LLC increased its position in Elevance Health by 201.6% in the third quarter. Quest Partners LLC now owns 2,319 shares of the company’s stock worth $1,206,000 after buying an additional 1,550 shares during the period. Fifth Third Wealth Advisors LLC increased its position in Elevance Health by 1.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,206 shares of the company’s stock worth $1,147,000 after buying an additional 39 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Elevance Health by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 83,994 shares of the company’s stock valued at $43,677,000 after purchasing an additional 832 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in shares of Elevance Health during the third quarter valued at $52,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV opened at $430.87 on Thursday. The company’s fifty day moving average is $398.56 and its 200-day moving average is $427.12. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a market cap of $97.96 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.59%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ELV has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Finally, Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $519.81.

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.