Elevance Health, Inc. (NYSE:ELV) Stock Holdings Cut by Samalin Investment Counsel LLC

Samalin Investment Counsel LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 829 shares of the company’s stock after selling 47 shares during the quarter. Samalin Investment Counsel LLC’s holdings in Elevance Health were worth $306,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Focused Investors LLC boosted its holdings in Elevance Health by 3.2% during the fourth quarter. Focused Investors LLC now owns 517,800 shares of the company’s stock worth $191,016,000 after buying an additional 16,200 shares in the last quarter. Guardian Partners Inc. acquired a new stake in shares of Elevance Health during the fourth quarter worth $2,306,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Elevance Health during the fourth quarter valued at $30,094,000. Sei Investments Co. lifted its holdings in shares of Elevance Health by 14.4% during the fourth quarter. Sei Investments Co. now owns 149,577 shares of the company’s stock valued at $55,184,000 after purchasing an additional 18,858 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its stake in Elevance Health by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 21,981 shares of the company’s stock worth $8,109,000 after purchasing an additional 6,944 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $519.81.

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 on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, 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 owned by corporate insiders.

Elevance Health Stock Down 1.6 %

Shares of Elevance Health stock opened at $427.27 on Monday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $400.52 and a two-hundred day moving average price of $424.46. The stock has a market capitalization of $97.14 billion, a P/E ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities 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. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. 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. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Elevance Health Company 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.