Elevance Health, Inc. (NYSE:ELV) Stock Position Trimmed by Strategic Financial Services Inc.

Strategic Financial Services Inc. decreased its position in Elevance Health, Inc. (NYSE:ELV) by 18.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,458 shares of the company’s stock after selling 325 shares during the period. Strategic Financial Services Inc.’s holdings in Elevance Health were worth $538,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ELV. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter worth approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health during the fourth quarter worth about $26,000. Dunhill Financial LLC lifted its holdings in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 4th quarter valued at about $29,000. Finally, Crews Bank & Trust acquired a new stake in Elevance Health during the fourth quarter valued at approximately $34,000. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction 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 disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ELV has been the topic of a number of recent research reports. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Monday. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays increased their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $519.81.

Elevance Health Stock Performance

Shares of ELV opened at $430.87 on Thursday. The company has a market capitalization of $97.96 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company’s fifty day moving average price is $398.56 and its 200 day moving average price is $427.12.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates 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, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.59%. This is a boost 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%.

About Elevance Health

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.