Dorsey & Whitney Trust CO LLC Has $1.25 Million Position in Elevance Health, Inc. (NYSE:ELV)

Dorsey & Whitney Trust CO LLC lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,381 shares of the company’s stock after selling 154 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Elevance Health were worth $1,247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its position in Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after buying an additional 129,709 shares during the last quarter. Geode Capital Management LLC raised its position in Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after buying an additional 85,770 shares during the last quarter. Sanders Capital LLC raised its position in Elevance Health by 1.0% in the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after buying an additional 44,805 shares during the last quarter. Wellington Management Group LLP raised its position in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after buying an additional 286,905 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after buying an additional 334,552 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $409.59 on Friday. 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 $362.21 and a 12 month high of $567.26. The stock has a 50 day moving average of $390.64 and a 200-day moving average of $434.13. The company has a market capitalization of $93.12 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ELV shares. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Argus restated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial decreased their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.