Curi RMB Capital LLC Sells 254 Shares of Elevance Health, Inc. (NYSE:ELV)

Curi RMB Capital LLC trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 11.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,042 shares of the company’s stock after selling 254 shares during the quarter. Curi RMB Capital LLC’s holdings in Elevance Health were worth $753,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the fourth quarter worth about $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC bought a new position in Elevance Health in the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. acquired a new position in Elevance Health during the fourth quarter valued at approximately $30,000. Finally, Crews Bank & Trust bought a new stake in Elevance Health during the fourth quarter worth $34,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Elevance Health news, 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the 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 transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health Price Performance

Elevance Health stock opened at $424.44 on Monday. The firm has a market cap of $96.09 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.18 and a beta of 0.77. The stock’s 50 day moving average is $416.77 and its 200 day moving average is $409.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last issued 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, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a $1.71 dividend. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.61%. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ELV shares. Barclays upped their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial increased their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $508.81.

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.