Toronto Dominion Bank Lowers Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Toronto Dominion Bank lessened its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,814 shares of the company's stock after selling 12,576 shares during the period. Toronto Dominion Bank's holdings in Elevance Health were worth $40,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELV. Accredited Wealth Management LLC acquired a new position in Elevance Health in the 4th quarter worth approximately $25,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health in the 4th quarter worth about $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the 4th quarter worth about $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. bought a new position in Elevance Health during the fourth quarter valued at approximately $30,000. 89.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. The trade was a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This trade represents a 25.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

Shares of Elevance Health stock traded down $15.24 during trading on Friday, hitting $369.27. 956,821 shares of the stock were exchanged, compared to its average volume of 1,517,353. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26. The stock has a market capitalization of $83.43 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The company has a fifty day moving average price of $420.81 and a 200-day moving average price of $403.37.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company 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 1.85%. Elevance Health's payout ratio is currently 26.69%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ELV shares. Robert W. Baird restated a "neutral" rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Argus set a $465.00 price target on Elevance Health in a report on Friday, April 25th. Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Barclays upped their price objective on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.