Truepoint Inc. Has $284,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Truepoint Inc. cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 22.0% in the 4th quarter, Holdings Channel reports. The firm owned 770 shares of the company’s stock after selling 217 shares during the period. Truepoint Inc.’s holdings in Elevance Health were worth $284,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ELV. Mutual Advisors LLC boosted its stake in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after buying an additional 52 shares in the last quarter. Czech National Bank boosted its stake in shares of Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after purchasing an additional 3,049 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after purchasing an additional 50,603 shares during the last quarter. Diversified Trust Co increased its position in Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after purchasing an additional 2,725 shares in the last quarter. Finally, JB Capital LLC lifted its stake in Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock valued at $3,462,000 after purchasing an additional 8,038 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ELV. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial dropped their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Finally, Argus upgraded 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. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were 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 directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s 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 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 owned by insiders.

Elevance Health Stock Up 0.9 %

Shares of NYSE:ELV opened at $434.44 on Friday. The business’s 50-day moving average is $399.60 and its 200-day moving average is $427.17. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a market capitalization of $98.77 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.18 and a beta of 0.86. 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 (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 return on equity of 18.28% and a net margin of 3.38%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.57%. 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 dividend payout ratio (DPR) is 26.71%.

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.