Elevance Health, Inc. (NYSE:ELV) Shares Sold by Drucker Wealth 3.0 LLC

Drucker Wealth 3.0 LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 23.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,375 shares of the company's stock after selling 1,009 shares during the quarter. Drucker Wealth 3.0 LLC's holdings in Elevance Health were worth $1,245,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Accredited Wealth Management LLC purchased a new position in Elevance Health in the fourth quarter worth about $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter worth about $26,000. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health during the fourth quarter worth about $29,000. Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health during the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new stake in Elevance Health in the 4th quarter valued at $29,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the company'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 transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,535 shares of company stock worth $3,521,612. Insiders own 0.29% of the company's stock.

Elevance Health Trading Up 0.2%

ELV traded up $0.89 during trading on Thursday, hitting $378.84. 513,129 shares of the stock were exchanged, compared to its average volume of 1,527,257. 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 1 year low of $357.45 and a 1 year high of $567.26. The firm has a 50 day simple moving average of $416.19 and a 200 day simple moving average of $401.99. The firm has a market cap of $85.59 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.18 and a beta of 0.66.

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

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.81%. Elevance Health's payout ratio is currently 26.69%.

Analyst Ratings Changes

Several equities analysts have commented on ELV shares. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Truist Financial lifted their target price on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Royal Bank of Canada restated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Mizuho lifted their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $510.38.

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.