Vest Financial LLC Has $36.97 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Vest Financial LLC cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,990 shares of the company's stock after selling 5,623 shares during the period. Vest Financial LLC's holdings in Elevance Health were worth $36,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Money Concepts Capital Corp grew its stake in Elevance Health by 9.0% during the 4th quarter. Money Concepts Capital Corp now owns 1,764 shares of the company's stock valued at $651,000 after acquiring an additional 146 shares in the last quarter. Rik Saylor Financial Inc. acquired a new position in Elevance Health during the 4th quarter worth $225,000. Consolidated Portfolio Review Corp purchased a new stake in Elevance Health during the 4th quarter worth about $219,000. Strategic Financial Concepts LLC purchased a new stake in Elevance Health during the 4th quarter worth about $21,232,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Elevance Health by 5.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,579 shares of the company's stock valued at $10,912,000 after purchasing an additional 1,569 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insiders Place Their Bets

In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ELV shares. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research note on Wednesday. Guggenheim reissued a "buy" rating and set a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $499.53.

Elevance Health Price Performance

NYSE ELV traded up $9.05 on Friday, reaching $393.70. The company's stock had a trading volume of 2,749,668 shares, compared to its average volume of 1,547,780. The firm has a market cap of $88.95 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The business has a 50-day moving average price of $410.29 and a 200 day moving average price of $400.80. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. 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 (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, beating analysts' consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid 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 1.74%. Elevance Health's dividend 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.