Elevance Health, Inc. (NYSE:ELV) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division lowered its position in Elevance Health, Inc. (NYSE:ELV) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,694 shares of the company’s stock after selling 101 shares during the quarter. Moody National Bank Trust Division’s holdings in Elevance Health were worth $1,732,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Cypress Wealth Services LLC lifted its holdings in shares of Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after purchasing an additional 23 shares during the last quarter. Atomi Financial Group Inc. grew its position in Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after acquiring an additional 25 shares in the last quarter. Lifeworks Advisors LLC lifted its holdings in Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the last quarter. Catalyst Financial Partners LLC grew its position in shares of Elevance Health by 2.9% in the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after purchasing an additional 26 shares during the last quarter. Finally, Fullcircle Wealth LLC increased its stake in shares of Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after purchasing an additional 26 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on ELV shares. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald reduced their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Barclays lowered their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $536.53.

Elevance Health Stock Performance

Shares of NYSE ELV traded up $16.11 during mid-day trading on Monday, reaching $397.26. 1,155,951 shares of the company were exchanged, compared to its average volume of 1,427,861. The stock has a market capitalization of $92.13 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.15 and a beta of 0.84. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company’s 50-day simple moving average is $391.39 and its 200-day simple moving average is $471.32. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the firm earned $8.99 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, December 5th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.64%. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.35% of the company’s stock.

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.