Richwood Investment Advisors LLC Reduces Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Richwood Investment Advisors LLC lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,017 shares of the company’s stock after selling 437 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Elevance Health were worth $744,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the period. Tobam boosted its holdings in Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after acquiring an additional 27 shares during the period. Jacobi Capital Management LLC boosted its holdings in Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after acquiring an additional 27 shares during the period. Austin Private Wealth LLC boosted its holdings in Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after acquiring an additional 29 shares during the period. Finally, Quent Capital LLC boosted its holdings in Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was 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 owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 1.6 %

Shares of NYSE:ELV opened at $427.27 on Friday. The business’s 50-day moving average is $400.52 and its 200 day moving average is $425.32. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm has a market capitalization of $97.14 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

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

Elevance Health Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ELV shares. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Monday, March 17th. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.