Stock Yards Bank & Trust Co. Sells 221 Shares of Elevance Health, Inc. (NYSE:ELV)

Stock Yards Bank & Trust Co. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,194 shares of the company’s stock after selling 221 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Elevance Health were worth $1,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. CENTRAL TRUST Co increased its holdings in Elevance Health by 12.7% during the 4th quarter. CENTRAL TRUST Co now owns 1,726 shares of the company’s stock worth $637,000 after purchasing an additional 195 shares during the period. Round Rock Advisors LLC increased its holdings in Elevance Health by 1.2% during the 4th quarter. Round Rock Advisors LLC now owns 7,298 shares of the company’s stock worth $2,771,000 after purchasing an additional 89 shares during the period. Golden State Equity Partners increased its holdings in Elevance Health by 84.0% during the 4th quarter. Golden State Equity Partners now owns 1,038 shares of the company’s stock worth $383,000 after purchasing an additional 474 shares during the period. Avantra Family Wealth Inc. purchased a new position in Elevance Health during the 4th quarter worth $559,000. Finally, Journey Strategic Wealth LLC increased its holdings in Elevance Health by 60.0% during the 4th quarter. Journey Strategic Wealth LLC now owns 1,053 shares of the company’s stock worth $389,000 after purchasing an additional 395 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ELV has been the topic of a number of analyst reports. Barclays lifted their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Royal Bank of Canada cut their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Mizuho cut their price target 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, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

Shares of ELV opened at $405.54 on Tuesday. The stock has a 50-day moving average of $386.50 and a two-hundred day moving average of $456.70. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market cap of $94.05 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.19 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 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%. As a group, research analysts predict that Elevance Health, Inc. will post 34.07 EPS for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 25.46%.

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.