Drucker Wealth 3.0 LLC Sells 1,009 Shares of Elevance Health, Inc. (NYSE:ELV)

Drucker Wealth 3.0 LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 23.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,375 shares of the company's stock after selling 1,009 shares during the period. Drucker Wealth 3.0 LLC's holdings in Elevance Health were worth $1,245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tobam raised its holdings in Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after acquiring an additional 27 shares in the last quarter. Jacobi Capital Management LLC raised its holdings in Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after acquiring an additional 27 shares in the last quarter. Austin Private Wealth LLC raised its holdings in Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock worth $736,000 after acquiring an additional 29 shares in the last quarter. Quent Capital LLC raised its holdings in Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after acquiring an additional 30 shares in the last quarter. Finally, Keystone Financial Services raised its holdings in Elevance Health by 2.4% during the fourth quarter. Keystone Financial Services now owns 1,436 shares of the company's stock worth $530,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

ELV has been the topic of several analyst reports. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Truist Financial boosted their price target on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $510.38.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $4,008,970.80. This represents a 25.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 over the last 90 days. 0.29% of the stock is owned by corporate insiders.

Elevance Health Price Performance

NYSE:ELV traded up $1.87 during trading hours on Wednesday, reaching $377.85. 2,158,758 shares of the company were exchanged, compared to its average volume of 1,531,183. The company has a market capitalization of $85.37 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a 50 day moving average of $417.18 and a 200 day moving average of $402.16.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly 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 business had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio 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.