Plancorp LLC Has $577,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Plancorp LLC lessened its position in Elevance Health, Inc. (NYSE:ELV) by 3.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,564 shares of the company’s stock after selling 58 shares during the period. Plancorp LLC’s holdings in Elevance Health were worth $577,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. First Eagle Investment Management LLC raised its holdings in Elevance Health by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. Stifel Financial Corp raised its holdings in Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after purchasing an additional 538,978 shares during the last quarter. Wellington Management Group LLP raised its holdings in Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. World Investment Advisors LLC bought a new stake in Elevance Health during the 3rd quarter worth about $129,221,000. Finally, Raymond James Financial Inc. bought a new stake in Elevance Health during the 4th quarter worth about $88,882,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

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

Elevance Health Trading Down 1.6 %

NYSE:ELV opened at $427.27 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $400.52 and a two-hundred day moving average price of $425.32. The company has a market cap of $97.14 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

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

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is presently 26.71%.

Analysts Set New Price Targets

A number of analysts have recently commented on ELV shares. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Monday, March 17th. Wells Fargo & Company lowered their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Truist Financial lowered their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Two investment 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 company. According to data from MarketBeat.com, Elevance Health currently 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.