Elevance Health, Inc. (NYSE:ELV) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,156 shares of the company’s stock after selling 271 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Elevance Health were worth $7,436,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. JB Capital LLC lifted its position in shares of Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock valued at $3,462,000 after acquiring an additional 8,038 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company’s stock worth $276,073,000 after purchasing an additional 326,543 shares during the period. VELA Investment Management LLC lifted its holdings in shares of Elevance Health by 101.6% during the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock valued at $765,000 after purchasing an additional 1,045 shares during the last quarter. Cambiar Investors LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at $45,614,000. Finally, E. Ohman J or Asset Management AB boosted its position in shares of Elevance Health by 11.1% in the 4th quarter. E. Ohman J or Asset Management AB now owns 10,440 shares of the company’s stock valued at $3,851,000 after purchasing an additional 1,040 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $384.02 on Monday. 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, Inc. has a one year low of $357.45 and a one year high of $567.26. The business’s 50-day moving average price is $414.46 and its two-hundred day moving average price is $401.37. The company has a market capitalization of $86.76 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS 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 business had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ELV shares. Truist Financial boosted their price objective on Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Royal Bank of Canada restated an “outperform” rating and set a $478.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Baird R W downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Robert W. Baird reiterated a “neutral” rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Mizuho boosted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $502.33.

Insider Activity

In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is owned by corporate insiders.

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.