Elevance Health, Inc. (NYSE:ELV) Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,061 shares of the company’s stock after selling 43 shares during the period. Signet Financial Management LLC’s holdings in Elevance Health were worth $500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Buffington Mohr McNeal boosted its stake in shares of Elevance Health by 6.6% during the fourth quarter. Buffington Mohr McNeal now owns 7,618 shares of the company’s stock worth $3,592,000 after buying an additional 470 shares during the period. Capital Analysts LLC boosted its stake in shares of Elevance Health by 1.2% during the fourth quarter. Capital Analysts LLC now owns 20,866 shares of the company’s stock worth $9,839,000 after buying an additional 254 shares during the period. CTC Alternative Strategies Ltd. acquired a new stake in shares of Elevance Health during the fourth quarter worth about $424,000. Keel Point LLC boosted its stake in shares of Elevance Health by 3.6% during the fourth quarter. Keel Point LLC now owns 966 shares of the company’s stock worth $456,000 after buying an additional 34 shares during the period. Finally, Aurora Private Wealth Inc. acquired a new stake in shares of Elevance Health during the fourth quarter worth about $210,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Barclays assumed coverage on shares of Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target for the company. Wells Fargo & Company cut their price target on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a report on Monday, April 8th. Finally, Royal Bank of Canada increased their price target on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $569.00.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

ELV opened at $507.02 on Wednesday. The company has a 50-day moving average of $507.94 and a 200-day moving average of $482.10. The company has a market capitalization of $117.98 billion, a P/E ratio of 20.14, a PEG ratio of 1.10 and a beta of 0.78. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $521.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, topping the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.23 EPS. Equities analysts expect that Elevance Health, Inc. will post 37.03 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.29%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, March 7th. Elevance Health’s payout ratio is presently 25.90%.

Elevance Health Company 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.