Elevance Health, Inc. (NYSE:ELV) Shares Bought by Whittier Trust Co.

Whittier Trust Co. increased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,612 shares of the company's stock after buying an additional 1,687 shares during the quarter. Whittier Trust Co.'s holdings in Elevance Health were worth $37,671,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. bought a new stake in shares of Elevance Health during the first quarter worth $1,744,000. Dakota Wealth Management bought a new stake in shares of Elevance Health during the first quarter worth $257,000. Asahi Life Asset Management CO. LTD. lifted its position in shares of Elevance Health by 59.5% during the first quarter. Asahi Life Asset Management CO. LTD. now owns 1,300 shares of the company's stock worth $565,000 after purchasing an additional 485 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Elevance Health by 1.4% during the first quarter. SBI Securities Co. Ltd. now owns 2,530 shares of the company's stock worth $1,100,000 after purchasing an additional 34 shares during the last quarter. Finally, Sigma Planning Corp lifted its position in shares of Elevance Health by 8.6% during the first quarter. Sigma Planning Corp now owns 2,194 shares of the company's stock worth $955,000 after purchasing an additional 174 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 12.5%

Shares of ELV stock traded down $43.22 during trading hours on Thursday, reaching $301.33. 7,400,426 shares of the company's stock were exchanged, compared to its average volume of 1,660,260. Elevance Health, Inc. has a 1 year low of $296.56 and a 1 year high of $567.26. The stock's fifty day moving average price is $376.31 and its two-hundred day moving average price is $396.73. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The stock has a market cap of $68.08 billion, a PE ratio of 11.76, a PEG ratio of 0.85 and a beta of 0.60.

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

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued 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 2.27%. Elevance Health's payout ratio is currently 26.69%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank Of Canada restated an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Guggenheim restated a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Mizuho lifted their price objective on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Barclays decreased their price objective on Elevance Health from $480.00 to $434.00 and set an "overweight" rating for the company in a report on Wednesday, July 9th. Finally, Wells Fargo & Company decreased their price objective on Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $481.87.

Insider Activity

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

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.