Elevance Health, Inc. (NYSE:ELV) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. decreased its position in Elevance Health, Inc. (NYSE:ELV) by 12.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,726 shares of the company’s stock after selling 2,172 shares during the period. Avantax Advisory Services Inc.’s holdings in Elevance Health were worth $5,801,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ELV. Stifel Financial Corp lifted its holdings in shares of Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after buying an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the period. Wellington Management Group LLP raised its position in shares of Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Elevance Health during the third quarter worth $129,221,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Elevance Health during the fourth quarter worth $88,882,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’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 completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’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 sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents 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.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research 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. Finally, Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $421.72 on Friday. The business’s 50-day moving average price is $395.45 and its two-hundred day moving average price is $430.47. 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. The company has a market capitalization of $95.88 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share 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 paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 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.