Elevance Health, Inc. (NYSE:ELV) Shares Sold by Focus Partners Wealth

Focus Partners Wealth lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,464 shares of the company's stock after selling 961 shares during the period. Focus Partners Wealth's holdings in Elevance Health were worth $7,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. EdgePoint Investment Group Inc. boosted its position in Elevance Health by 22.0% during the fourth quarter. EdgePoint Investment Group Inc. now owns 1,601,517 shares of the company's stock worth $590,800,000 after purchasing an additional 288,825 shares during the period. Ethic Inc. boosted its holdings in shares of Elevance Health by 28.9% during the 4th quarter. Ethic Inc. now owns 24,399 shares of the company's stock worth $9,001,000 after buying an additional 5,471 shares during the period. Eschler Asset Management LLP bought a new stake in shares of Elevance Health during the 4th quarter worth about $1,089,000. First Manhattan CO. LLC. grew its stake in Elevance Health by 293.3% in the 4th quarter. First Manhattan CO. LLC. now owns 4,712 shares of the company's stock valued at $1,738,000 after buying an additional 3,514 shares during the last quarter. Finally, FORA Capital LLC raised its holdings in Elevance Health by 2,276.0% in the 4th quarter. FORA Capital LLC now owns 15,064 shares of the company's stock valued at $5,557,000 after acquiring an additional 14,430 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Barclays upped their price objective on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $510.38.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was 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 over the last 90 days. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

NYSE ELV traded down $0.25 on Monday, hitting $403.04. 309,076 shares of the company traded hands, compared to its average volume of 1,504,052. The business's 50 day moving average price is $422.47 and its 200-day moving average price is $403.64. 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 52-week low of $357.45 and a 52-week high of $567.26. The company has a market capitalization of $91.06 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.18 and a beta of 0.66.

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

Elevance Health Announces Dividend

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 issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 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.