Retirement Planning Group LLC NY Sells 2,683 Shares of Elevance Health, Inc. (NYSE:ELV)

Retirement Planning Group LLC NY lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 75.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 870 shares of the company's stock after selling 2,683 shares during the period. Retirement Planning Group LLC NY's holdings in Elevance Health were worth $378,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Accredited Wealth Management LLC bought a new position in Elevance Health in the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Elevance Health during the fourth quarter valued at $26,000. Riverview Trust Co grew its holdings in shares of Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after purchasing an additional 67 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in Elevance Health in the 4th quarter worth about $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in Elevance Health in the 4th quarter worth about $30,000. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated 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 directly 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 filing with the SEC, which is available at this link. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ELV. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Mizuho boosted their price target on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and a consensus target price of $498.87.

Elevance Health Trading Down 0.6%

ELV opened at $373.71 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The firm has a market cap of $84.43 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.96 and a beta of 0.60. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The stock has a fifty day moving average price of $398.68 and a 200-day moving average price of $399.12.

Elevance Health (NYSE:ELV - Get Free Report) last posted its 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 company had revenue of $48.77 billion for 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%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced 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. 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 1.83%. Elevance Health's payout ratio is 26.69%.

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.

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