Elevance Health, Inc. (NYSE:ELV) Holdings Decreased by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 75.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,008 shares of the company's stock after selling 3,149 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA's holdings in Elevance Health were worth $438,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its stake in Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock valued at $276,073,000 after purchasing an additional 326,543 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Elevance Health during the 1st quarter valued at $299,000. GAMMA Investing LLC boosted its stake in shares of Elevance Health by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock worth $1,475,000 after acquiring an additional 1,588 shares in the last quarter. Ritholtz Wealth Management grew its holdings in shares of Elevance Health by 185.7% in the 1st quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock worth $1,341,000 after acquiring an additional 2,004 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Elevance Health by 36.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock worth $11,991,000 after acquiring an additional 7,410 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

In related news, CFO Mark Kaye sold 4,588 shares of the business'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 value of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ELV. Argus set a $465.00 price target on Elevance Health in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. 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 research report on Tuesday, April 15th. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the stock a "buy" rating in a research note on Monday, June 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $498.87.

Elevance Health Price Performance

ELV opened at $381.25 on Monday. The stock has a fifty day moving average price of $392.98 and a 200 day moving average price of $398.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26. The stock has a market cap of $86.14 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.97 and a beta of 0.60.

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

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's payout ratio is presently 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.

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