Elevance Health, Inc. (NYSE:ELV) Holdings Trimmed by Auxier Asset Management

Auxier Asset Management reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,642 shares of the company’s stock after selling 1,573 shares during the quarter. Elevance Health accounts for 2.0% of Auxier Asset Management’s investment portfolio, making the stock its 9th biggest holding. Auxier Asset Management’s holdings in Elevance Health were worth $13,148,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Accredited Wealth Management LLC purchased a new position in Elevance Health during the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 4th quarter valued at $26,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter valued at $29,000. Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the 4th quarter valued at $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of Elevance Health in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial lifted their price objective on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Wells Fargo & Company cut 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. Barclays boosted their price target on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $478.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $510.38.

Elevance Health Stock Down 3.2%

ELV stock opened at $372.33 on Friday. The stock has a market capitalization of $84.12 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The company has a 50-day moving average of $419.53 and a two-hundred day moving average of $403.06. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. 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 announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $46.26 billion. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Insiders Place Their Bets

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 transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 in the last ninety days. Insiders own 0.29% of the company’s stock.

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.