Beacon Pointe Advisors LLC Sells 2,925 Shares of Elevance Health, Inc. (NYSE:ELV)

Beacon Pointe Advisors LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 38.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,701 shares of the company's stock after selling 2,925 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Elevance Health were worth $1,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mutual Advisors LLC boosted its position in shares of Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after buying an additional 52 shares during the period. Czech National Bank grew its stake in Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company's stock valued at $18,551,000 after purchasing an additional 3,049 shares in the last quarter. Diversified Trust Co grew its stake in Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company's stock valued at $8,328,000 after purchasing an additional 2,725 shares in the last quarter. JB Capital LLC increased 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 worth $3,462,000 after purchasing an additional 8,038 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Elevance Health by 60.6% in the 3rd quarter. Tidal Investments LLC now owns 10,485 shares of the company's stock valued at $5,452,000 after buying an additional 3,956 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The shares were 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 approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock valued at $3,521,612 over the last quarter. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays lifted their price target on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Argus set a $465.00 price target on Elevance Health in a report on Friday, April 25th. Guggenheim reiterated a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Robert W. Baird reissued a "neutral" rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $510.38.

Elevance Health Price Performance

Shares of ELV traded up $6.43 during mid-day trading on Monday, reaching $416.41. The company had a trading volume of 1,222,033 shares, compared to its average volume of 1,465,870. The company has a market capitalization of $94.08 billion, a price-to-earnings ratio of 16.26, a P/E/G 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. The company's 50 day simple moving average is $422.21 and its 200 day simple moving average is $404.69. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

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

Elevance Health Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 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.