Jefferies Financial Group Inc. Sells 3,504 Shares of Elevance Health, Inc. (NYSE:ELV)

Jefferies Financial Group Inc. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,335 shares of the company’s stock after selling 3,504 shares during the period. Jefferies Financial Group Inc.’s holdings in Elevance Health were worth $8,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Accredited Wealth Management LLC bought a new position in Elevance Health during the 4th quarter worth $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health during the 4th quarter worth $26,000. WealthTrak Capital Management LLC bought a new position in Elevance Health during the 4th quarter worth $29,000. Lee Danner & Bass Inc. bought a new position in Elevance Health during the 4th quarter worth $30,000. Finally, OFI Invest Asset Management bought a new position in Elevance Health during the 4th quarter worth $29,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays raised their target price on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Mizuho raised their target price on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $510.38.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’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 completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated 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 $766,745.11. The trade was a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,535 shares of company stock valued at $3,521,612. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Stock Down 1.9%

Shares of ELV opened at $404.52 on Monday. The company has a market capitalization of $91.40 billion, a PE ratio of 15.80, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock’s 50-day moving average price is $424.13 and its two-hundred day moving average price is $404.41. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

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

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders 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 1.69%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

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.