Elevance Health, Inc. (NYSE:ELV) Shares Sold by Prana Capital Management LP

Prana Capital Management LP trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 51.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,083 shares of the company's stock after selling 26,132 shares during the period. Prana Capital Management LP's holdings in Elevance Health were worth $9,253,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health in the 4th quarter worth about $25,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the 4th quarter worth approximately $26,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health in the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. acquired a new position in Elevance Health during the fourth quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in Elevance Health during the fourth quarter worth approximately $29,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent research reports. Robert W. Baird restated a "neutral" rating and set a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Truist Financial boosted their price objective on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Argus set a $465.00 target price on Elevance Health in a report on Friday, April 25th. Finally, Guggenheim restated a "buy" rating and issued a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $510.38.

Elevance Health Stock Performance

Shares of ELV traded up $0.09 during mid-day trading on Monday, hitting $403.38. The stock had a trading volume of 1,329,140 shares, compared to its average volume of 1,507,988. 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 market cap of $91.14 billion, a PE ratio of 15.75, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The company's fifty day simple moving average is $422.47 and its two-hundred day simple moving average is $403.64.

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

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued 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 presently 26.69%.

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.