Strategic Wealth Partners Ltd. Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Strategic Wealth Partners Ltd. reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 14.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,192 shares of the company’s stock after selling 708 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Elevance Health were worth $1,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Tobam boosted its stake in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after buying an additional 27 shares during the last quarter. Jacobi Capital Management LLC boosted its stake in shares of Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after buying an additional 27 shares during the last quarter. Austin Private Wealth LLC raised its position in shares of Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after acquiring an additional 29 shares in the last quarter. Quent Capital LLC raised its position in shares of Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after acquiring an additional 30 shares in the last quarter. Finally, Keystone Financial Services raised its position in shares of Elevance Health by 2.4% during the 4th quarter. Keystone Financial Services now owns 1,436 shares of the company’s stock valued at $530,000 after acquiring an additional 33 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the topic of several research reports. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays upped their price target on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Mizuho upped their price target on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Argus set a $465.00 price target on Elevance Health in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $510.38.

Insider Activity

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health 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 directly owns 18,977 shares of the company’s stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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 Price Performance

Shares of ELV opened at $403.20 on Monday. The firm has a market capitalization of $91.10 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The stock’s fifty day moving average is $422.47 and its 200-day moving average is $403.64.

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

Elevance Health Dividend Announcement

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 issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

About Elevance Health

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.