Western Wealth Management LLC Has $738,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Western Wealth Management LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of ELV. Mutual Advisors LLC lifted its position in shares of Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after acquiring an additional 52 shares in the last quarter. JB Capital LLC lifted its stake in Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock worth $3,462,000 after purchasing an additional 8,038 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Elevance Health by 82.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after buying an additional 326,543 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE boosted its stake in shares of Elevance Health by 15.8% in the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company's stock valued at $11,837,000 after purchasing an additional 4,372 shares in the last quarter. Finally, VELA Investment Management LLC boosted its position in Elevance Health by 101.6% during the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock valued at $765,000 after buying an additional 1,045 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

NYSE ELV traded down $0.05 during mid-day trading on Thursday, hitting $377.90. The stock had a trading volume of 414,339 shares, compared to its average volume of 1,526,904. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The company has a market cap of $85.38 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.18 and a beta of 0.66. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a 50 day simple moving average of $416.19 and a 200 day simple moving average of $401.99.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS 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 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 analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.81%. Elevance Health's dividend payout ratio is currently 26.69%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Barclays upped their price target on shares of Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Truist Financial increased their price target on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $510.38.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. This represents a 25.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 in the last three months. 0.29% of the stock is currently owned by insiders.

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.