Laird Norton Wetherby Wealth Management LLC Sells 1,420 Shares of Elevance Health, Inc. (NYSE:ELV)

Laird Norton Wetherby Wealth Management LLC lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,304 shares of the company's stock after selling 1,420 shares during the period. Laird Norton Wetherby Wealth Management LLC's holdings in Elevance Health were worth $2,326,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tobam increased its stake in Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Jacobi Capital Management LLC boosted its holdings in Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after purchasing an additional 27 shares during the last quarter. Austin Private Wealth LLC grew its position in Elevance Health by 1.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock worth $736,000 after purchasing an additional 29 shares in the last quarter. Quent Capital LLC increased its stake in Elevance Health by 2.1% in the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after buying an additional 30 shares during the last quarter. Finally, RDA Financial Network boosted its stake in shares of Elevance Health by 0.5% in the 4th quarter. RDA Financial Network now owns 6,384 shares of the company's stock worth $2,355,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of ELV stock traded up $13.20 during trading hours on Friday, hitting $403.20. 2,542,606 shares of the company's stock were exchanged, compared to its average volume of 1,504,020. The company has a market capitalization of $91.10 billion, a PE ratio of 15.74, a PEG ratio of 1.18 and a beta of 0.66. 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 12-month low of $357.45 and a 12-month high of $567.26. The business's 50 day simple moving average is $422.87 and its 200-day simple moving average is $403.76.

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

Elevance Health Dividend Announcement

The company 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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Guggenheim reiterated a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Robert W. Baird restated a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Finally, Truist Financial raised their price target on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and an average target price of $510.38.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is currently owned by company 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.