Capital Analysts LLC Sells 21,071 Shares of Elevance Health, Inc. (NYSE:ELV)

Capital Analysts LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 97.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 542 shares of the company’s stock after selling 21,071 shares during the quarter. Capital Analysts LLC’s holdings in Elevance Health were worth $200,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Arnhold LLC purchased a new stake in shares of Elevance Health during the fourth quarter valued at $2,914,000. Voya Financial Advisors Inc. grew its holdings in shares of Elevance Health by 27.1% in the fourth quarter. Voya Financial Advisors Inc. now owns 8,595 shares of the company’s stock worth $3,169,000 after purchasing an additional 1,832 shares during the last quarter. Nebula Research & Development LLC grew its holdings in shares of Elevance Health by 537.3% in the fourth quarter. Nebula Research & Development LLC now owns 5,213 shares of the company’s stock worth $1,923,000 after purchasing an additional 4,395 shares during the last quarter. Van Den Berg Management I Inc. grew its holdings in shares of Elevance Health by 43.0% in the fourth quarter. Van Den Berg Management I Inc. now owns 16,598 shares of the company’s stock worth $6,123,000 after purchasing an additional 4,994 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Elevance Health by 7.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,045 shares of the company’s stock worth $1,492,000 after purchasing an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity 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 that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction 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 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 can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock valued at $3,521,612 in the last three months. 0.29% of the stock is owned by insiders.

Elevance Health Stock Down 2.0 %

NYSE:ELV opened at $413.41 on Tuesday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a market capitalization of $93.40 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company’s 50-day simple moving average is $420.43 and its 200-day simple moving average is $406.68.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s payout ratio is currently 26.69%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research analyst reports. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Truist Financial increased their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $510.38.

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.