Elevance Health, Inc. (NYSE:ELV) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,684 shares of the company’s stock after selling 310 shares during the period. TD Private Client Wealth LLC’s holdings in Elevance Health were worth $990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health during the 4th quarter valued at $26,000. OFI Invest Asset Management acquired a new position in shares of Elevance Health during the 4th quarter valued at $29,000. Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health in the 4th quarter worth $30,000. Finally, Crews Bank & Trust acquired a new stake in shares of Elevance Health in the fourth quarter valued at $34,000. 89.24% of the stock is currently owned by institutional investors.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction 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 company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Argus upgraded 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. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Truist Financial reduced their price objective 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. Two equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Stock Down 1.6 %

Shares of Elevance Health stock opened at $427.27 on Monday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a market cap of $97.14 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.18 and a beta of 0.86. 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 stock has a 50-day moving average price of $400.52 and a 200 day moving average price of $424.46.

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

Elevance Health Increases Dividend

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