Coastline Trust Co Sells 715 Shares of Elevance Health, Inc. (NYSE:ELV)

Coastline Trust Co reduced its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,129 shares of the company's stock after selling 715 shares during the period. Coastline Trust Co's holdings in Elevance Health were worth $2,666,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Accredited Wealth Management LLC acquired a new stake in Elevance Health in the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health during the fourth quarter worth $26,000. Riverview Trust Co lifted its holdings in shares of Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after acquiring an additional 67 shares during the period. WealthTrak Capital Management LLC bought a new stake in Elevance Health during the 4th quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 0.4%

ELV stock traded down $1.33 during mid-day trading on Friday, hitting $348.92. 2,006,213 shares of the company were exchanged, compared to its average volume of 1,607,108. The firm has a market cap of $78.83 billion, a P/E ratio of 13.61, a P/E/G ratio of 0.89 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $347.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The firm's 50 day simple moving average is $389.10 and its 200 day simple moving average is $398.31.

Elevance Health (NYSE:ELV - Get Free Report) last released its 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 firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Mizuho raised their price objective 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. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Guggenheim reissued a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $498.87.

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.