Elevance Health, Inc. (NYSE:ELV) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 9.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 486 shares of the company’s stock after selling 53 shares during the quarter. Larson Financial Group LLC’s holdings in Elevance Health were worth $229,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. abrdn plc boosted its holdings in shares of Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after purchasing an additional 129,364 shares during the last quarter. Cerity Partners LLC raised its position in Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after purchasing an additional 9,199 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Elevance Health in the fourth quarter valued at approximately $218,000. Chicago Capital LLC increased its position in shares of Elevance Health by 244.2% during the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after acquiring an additional 4,986 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Elevance Health during the fourth quarter worth $2,235,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 0.2 %

Shares of Elevance Health stock opened at $533.79 on Thursday. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $124.06 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. The company has a 50-day moving average of $510.78 and a two-hundred day moving average of $485.44.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same period last year, the company posted $9.46 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the firm’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 transaction of $376,500.00. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. UBS Group upped their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Wells Fargo & Company upped their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Jefferies Financial Group upped their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Mizuho increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $587.42.

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.