Elevance Health, Inc. (NYSE:ELV) Shares Sold by Peoples Bank KS

Peoples Bank KS lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.4% during the fourth quarter, Holdings Channel reports. The fund owned 3,694 shares of the company’s stock after selling 130 shares during the quarter. Peoples Bank KS’s holdings in Elevance Health were worth $1,363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Private Advisor Group LLC boosted its holdings in shares of Elevance Health by 7.2% during the second quarter. Private Advisor Group LLC now owns 13,103 shares of the company’s stock worth $7,100,000 after purchasing an additional 876 shares during the last quarter. Norden Group LLC lifted its position in Elevance Health by 10.7% during the second quarter. Norden Group LLC now owns 485 shares of the company’s stock worth $263,000 after buying an additional 47 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Elevance Health in the 2nd quarter worth about $30,000. Ashton Thomas Private Wealth LLC purchased a new stake in Elevance Health in the 2nd quarter valued at about $142,000. Finally, Choreo LLC increased its stake in shares of Elevance Health by 324.9% during the 2nd quarter. Choreo LLC now owns 5,184 shares of the company’s stock valued at $2,775,000 after acquiring an additional 3,964 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELV has been the topic of several research analyst reports. Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group dropped their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Elevance Health Stock Up 0.2 %

Shares of NYSE:ELV opened at $380.47 on Wednesday. The company has a market capitalization of $88.24 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84. The company has a 50 day moving average of $393.06 and a two-hundred day moving average of $474.59. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the business posted $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, December 5th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

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.