O Shaughnessy Asset Management LLC Reduces Stake in Elevance Health, Inc. (NYSE:ELV)

O Shaughnessy Asset Management LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 24.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,419 shares of the company’s stock after selling 7,399 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Elevance Health were worth $8,639,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the 3rd quarter worth approximately $26,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the fourth quarter valued at $26,000. OFI Invest Asset Management acquired a new position in Elevance Health in the fourth quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the fourth quarter worth about $30,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.8 %

Shares of ELV stock opened at $435.48 on Tuesday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business’s fifty day moving average price is $405.47 and its 200 day moving average price is $419.64. The firm has a market capitalization of $99.01 billion, a PE ratio of 17.00, a P/E/G ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.57%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Analyst Ratings Changes

ELV has been the subject of a number of research analyst reports. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Monday, March 17th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

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.