Elevance Health, Inc. (NYSE:ELV) Shares Sold by First American Trust FSB

First American Trust FSB decreased its position in Elevance Health, Inc. (NYSE:ELV) by 90.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,828 shares of the company’s stock after selling 26,132 shares during the period. First American Trust FSB’s holdings in Elevance Health were worth $1,043,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Elevance Health by 460.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,923 shares of the company’s stock valued at $2,560,000 after purchasing an additional 4,044 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Elevance Health during the 3rd quarter worth about $686,000. Cerity Partners LLC lifted its stake in Elevance Health by 19.8% in the 3rd quarter. Cerity Partners LLC now owns 64,659 shares of the company’s stock valued at $33,623,000 after buying an additional 10,678 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Elevance Health by 24.1% in the 3rd quarter. Larson Financial Group LLC now owns 624 shares of the company’s stock worth $324,000 after buying an additional 121 shares during the last quarter. Finally, Centaurus Financial Inc. increased its stake in Elevance Health by 60.9% during the 3rd quarter. Centaurus Financial Inc. now owns 1,477 shares of the company’s stock worth $768,000 after buying an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other 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 transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the 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 completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial decreased their price target 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. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $519.81.

Elevance Health Price Performance

Elevance Health stock opened at $427.62 on Tuesday. The company’s 50 day simple moving average is $401.13 and its 200-day simple moving average is $423.64. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a market capitalization of $97.22 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last released its quarterly 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 expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. Elevance Health’s dividend payout ratio is 26.71%.

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.