Herold Advisors Inc. Sells 67 Shares of Elevance Health, Inc. (NYSE:ELV)

Herold Advisors Inc. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,282 shares of the company’s stock after selling 67 shares during the period. Herold Advisors Inc.’s holdings in Elevance Health were worth $1,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Elevance Health during the third quarter valued at approximately $25,000. Alaska Permanent Fund Corp bought a new position in Elevance Health during the fourth quarter valued at approximately $31,000. ORG Partners LLC bought a new position in Elevance Health during the fourth quarter valued at approximately $40,000. Orion Capital Management LLC bought a new position in Elevance Health during the third quarter valued at approximately $46,000. Finally, Milestone Investment Advisors LLC bought a new position in Elevance Health during the third quarter valued at approximately $51,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of several analyst reports. Royal Bank of Canada increased their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Mizuho increased their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday. Barclays increased their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company increased their price target on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Elevance Health Stock Performance

ELV stock opened at $537.26 on Friday. The business’s fifty day moving average is $511.89 and its 200-day moving average is $486.40. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $124.87 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.46 EPS. Equities research analysts forecast that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is presently 24.64%.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.35% 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.