Drucker Wealth 3.0 LLC Reduces Holdings in Elevance Health, Inc. (NYSE:ELV)

Drucker Wealth 3.0 LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 23.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELV. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health in the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health during the fourth quarter worth $26,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health in the fourth quarter worth $29,000. Lee Danner & Bass Inc. purchased a new position in Elevance Health in the fourth quarter worth $30,000. Finally, OFI Invest Asset Management bought a new position 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.

Elevance Health Price Performance

NYSE:ELV traded up $3.46 during mid-day trading on Tuesday, reaching $375.73. The stock had a trading volume of 1,938,372 shares, compared to its average volume of 1,528,673. The stock has a market capitalization of $84.89 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.18 and a beta of 0.66. The firm has a 50 day moving average price of $418.36 and a two-hundred day moving average price of $402.34. 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 one year low of $357.45 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate 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, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.82%. Elevance Health's payout ratio is 26.69%.

Insider Buying and Selling at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was 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 $4,008,970.80. The trade was a 25.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,535 shares of company stock worth $3,521,612 over the last three months. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

ELV has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Argus set a $465.00 price objective on shares of Elevance Health in a research report on Friday, April 25th. Mizuho increased their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Royal Bank of Canada restated an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $510.38.

Elevance Health Company 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.