Elevance Health, Inc. (NYSE:ELV) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 25.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the company's stock after selling 700 shares during the period. Western Wealth Management LLC's holdings in Elevance Health were worth $738,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Elevance Health in the 4th quarter worth $1,135,014,000. Wellington Management Group LLP increased its stake in Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after buying an additional 1,893,947 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after buying an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Elevance Health by 6,817.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after buying an additional 895,658 shares in the last quarter. Finally, D1 Capital Partners L.P. purchased a new stake in Elevance Health in the 4th quarter worth $294,751,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Guggenheim reaffirmed a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Truist Financial increased their price target on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Finally, Argus set a $465.00 price target on shares of Elevance Health in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $510.38.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction 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. The trade was a 19.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction 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 sold 8,535 shares of company stock valued at $3,521,612 over the last 90 days. Corporate insiders own 0.29% of the company's stock.

Elevance Health Trading Up 0.9%

Shares of Elevance Health stock traded up $3.46 on Tuesday, hitting $375.73. 1,938,372 shares of the company traded hands, compared to its average volume of 1,528,673. The company has a market cap of $84.89 billion, a PE ratio of 14.67, a PEG ratio of 1.18 and a beta of 0.66. 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. The stock's 50 day moving average price is $418.36 and its 200-day moving average price is $402.34.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

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.