Jefferies Financial Group Inc. Sells 3,504 Shares of Elevance Health, Inc. (NYSE:ELV)

Jefferies Financial Group Inc. cut its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,335 shares of the company's stock after selling 3,504 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Elevance Health were worth $8,239,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mutual Advisors LLC raised its position in shares of Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after acquiring an additional 52 shares during the last quarter. JB Capital LLC grew its position in shares of Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company's stock worth $3,462,000 after buying an additional 8,038 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Elevance Health by 82.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after buying an additional 326,543 shares during the period. Lawson Kroeker Investment Management Inc. NE grew its position in shares of Elevance Health by 15.8% during the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company's stock worth $11,837,000 after buying an additional 4,372 shares during the period. Finally, VELA Investment Management LLC grew its position in shares of Elevance Health by 101.6% during the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock worth $765,000 after buying an additional 1,045 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Up 0.5%

Elevance Health stock traded up $2.04 during trading hours on Thursday, hitting $379.99. The stock had a trading volume of 1,629,200 shares, compared to its average volume of 1,532,088. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock has a market cap of $85.85 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26. The business's 50 day simple moving average is $416.19 and its 200-day simple moving average is $401.99.

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. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.80%. Elevance Health's dividend payout ratio is currently 26.69%.

Insider Activity

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health 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 transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73% decrease in their position. 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 quarter. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ELV. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Truist Financial boosted their price objective on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Barclays boosted their price objective on Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Finally, Cantor Fitzgerald reaffirmed 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 MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.