First Hawaiian Bank Buys 535 Shares of Elevance Health, Inc. (NYSE:ELV)

First Hawaiian Bank increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 11.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,309 shares of the company’s stock after purchasing an additional 535 shares during the quarter. First Hawaiian Bank’s holdings in Elevance Health were worth $2,309,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Accredited Wealth Management LLC bought a new position in Elevance Health in the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at $26,000. WealthTrak Capital Management LLC bought a new position in Elevance Health in the 4th quarter valued at $29,000. Lee Danner & Bass Inc. bought a new position in Elevance Health in the 4th quarter valued at $30,000. Finally, OFI Invest Asset Management bought a new position in Elevance Health in the 4th quarter valued at $29,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were 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 of the company’s stock, valued at $766,745.11. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,535 shares of company stock valued at $3,521,612. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 0.5%

ELV stock opened at $379.99 on Friday. The stock has a market capitalization of $85.85 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $415.24 and a 200 day moving average of $401.68.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.80%. Elevance Health’s dividend payout ratio is currently 26.69%.

Analysts Set New Price Targets

Several equities analysts have commented on ELV shares. Argus set a $465.00 price objective on Elevance Health in a research report on Friday, April 25th. Baird R W lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Barclays upped their price objective on Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $510.38.

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.