Elevance Health, Inc. (NYSE:ELV) Shares Sold by Stephens Inc. AR

Stephens Inc. AR trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 54.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,512 shares of the company's stock after selling 11,522 shares during the quarter. Stephens Inc. AR's holdings in Elevance Health were worth $4,138,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ELV. Proficio Capital Partners LLC increased its stake in Elevance Health by 33.5% during the fourth quarter. Proficio Capital Partners LLC now owns 626 shares of the company's stock worth $231,000 after acquiring an additional 157 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Elevance Health by 3.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 50,579 shares of the company's stock valued at $18,658,000 after buying an additional 1,887 shares during the period. Creative Financial Designs Inc. ADV lifted its position in Elevance Health by 21.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 676 shares of the company's stock worth $249,000 after buying an additional 119 shares during the last quarter. Cibc World Markets Corp boosted its stake in Elevance Health by 16.0% during the fourth quarter. Cibc World Markets Corp now owns 36,570 shares of the company's stock worth $13,491,000 after buying an additional 5,035 shares during the period. Finally, Flagship Wealth Advisors LLC bought a new position in Elevance Health during the fourth quarter valued at $26,000. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on ELV shares. Robert W. Baird reiterated a "neutral" rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Wells Fargo & Company cut their price target on shares of Elevance Health from $478.00 to $400.00 and set an "overweight" rating on the stock in a report on Tuesday. Argus set a $465.00 price target on shares of Elevance Health in a report on Friday, April 25th. Royal Bank Of Canada reiterated an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a report on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $441.81.

Insider Buying and Selling

In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Down 6.8%

Shares of NYSE ELV traded down $20.67 during trading hours on Friday, hitting $281.78. 5,261,065 shares of the stock were exchanged, compared to its average volume of 1,665,310. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 12 month low of $276.57 and a 12 month high of $567.26. The company has a market cap of $63.66 billion, a PE ratio of 11.03, a PEG ratio of 0.88 and a beta of 0.60. The firm has a fifty day moving average price of $374.07 and a 200-day moving average price of $396.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the previous year, the company posted $10.12 EPS. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were given a $1.71 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.43%. Elevance Health's dividend payout ratio is currently 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.