Elevance Health, Inc. (NYSE:ELV) Shares Sold by First National Trust Co

First National Trust Co reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.3% during the 4th quarter, HoldingsChannel reports. The firm owned 809 shares of the company’s stock after selling 28 shares during the quarter. First National Trust Co’s holdings in Elevance Health were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ELV. GSA Capital Partners LLP acquired a new position in Elevance Health in the third quarter valued at approximately $518,000. Oppenheimer Asset Management Inc. lifted its holdings in Elevance Health by 1.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 7,698 shares of the company’s stock valued at $4,003,000 after acquiring an additional 118 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in Elevance Health by 9.7% in the third quarter. Kovack Advisors Inc. now owns 486 shares of the company’s stock valued at $253,000 after acquiring an additional 43 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Elevance Health by 15.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,028 shares of the company’s stock valued at $3,655,000 after acquiring an additional 941 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Elevance Health by 6.0% in the third quarter. Impax Asset Management Group plc now owns 25,305 shares of the company’s stock valued at $13,159,000 after acquiring an additional 1,435 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ELV shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Argus reiterated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Truist Financial decreased their price target on 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, Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Insider Activity at Elevance Health

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 stock was 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 owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated 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 directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Stock Up 1.1 %

Elevance Health stock opened at $421.72 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock’s fifty day simple moving average is $395.45 and its 200-day simple moving average is $429.65. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $95.88 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.18 and a beta of 0.86.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.62%. 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. Elevance Health’s dividend payout ratio is 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.