Advisory Services Network LLC Has $885,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Advisory Services Network LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 36.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,399 shares of the company’s stock after selling 1,379 shares during the quarter. Advisory Services Network LLC’s holdings in Elevance Health were worth $885,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new stake in Elevance Health in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 4th quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $29,000. Lee Danner & Bass Inc. bought a new position in Elevance Health during the fourth quarter worth $30,000. Finally, Crews Bank & Trust acquired a new position in Elevance Health in the fourth quarter valued at $34,000. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the topic of several research analyst reports. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays raised their target price on 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 raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Guggenheim started coverage on shares of Elevance Health in a report on Wednesday, April 9th. They set a “buy” rating and a $518.00 price objective on the stock. Finally, 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, March 17th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $521.47.

Elevance Health Stock Performance

Shares of ELV opened at $441.02 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market cap of $99.84 billion, a PE ratio of 17.22, a PEG ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock’s fifty day moving average price is $413.71 and its two-hundred day moving average price is $411.99.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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%. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.55%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 26.71%.

Insider Transactions at Elevance Health

In other Elevance Health 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 completion of the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, 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. Corporate insiders own 0.35% of the company’s stock.

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.