Bank of New York Mellon Corp Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Bank of New York Mellon Corp lessened its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,405,073 shares of the company's stock after selling 48,141 shares during the period. Bank of New York Mellon Corp owned about 0.62% of Elevance Health worth $611,151,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Milestone Asset Management LLC raised its stake in Elevance Health by 2.2% during the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after acquiring an additional 24 shares during the period. Elser Financial Planning Inc raised its stake in Elevance Health by 3.0% during the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after acquiring an additional 26 shares during the period. Checchi Capital Advisers LLC raised its stake in Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after acquiring an additional 27 shares during the period. Barlow Wealth Partners Inc. raised its stake in Elevance Health by 1.3% during the 1st quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock worth $961,000 after acquiring an additional 30 shares during the period. Finally, McLean Asset Management Corp raised its stake in Elevance Health by 2.3% during the 1st quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock worth $620,000 after acquiring an additional 32 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Up 0.0%

ELV traded up $0.08 during trading on Tuesday, reaching $346.96. The company had a trading volume of 614,801 shares, compared to its average volume of 1,609,154. The stock has a market cap of $78.39 billion, a P/E ratio of 13.54, a PEG ratio of 0.88 and a beta of 0.60. The business has a 50 day simple moving average of $386.32 and a 200-day simple moving average of $398.50. Elevance Health, Inc. has a 52 week low of $343.72 and a 52 week high of $567.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.97%. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ELV shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Mizuho increased their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Barclays cut their target price on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a report on Monday, June 2nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $498.87.

Insider Buying and Selling at Elevance Health

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 value of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, 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 SEC, which is available through the SEC website. 0.29% of the stock is owned by 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.