Summit Trail Advisors LLC Sells 58 Shares of Elevance Health, Inc. (NYSE:ELV)

Summit Trail Advisors LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,964 shares of the company’s stock after selling 58 shares during the quarter. Summit Trail Advisors LLC’s holdings in Elevance Health were worth $926,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ELV. International Assets Investment Management LLC boosted its position in shares of Elevance Health by 45,888.1% during the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after purchasing an additional 255,138 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock valued at $159,726,000 after buying an additional 249,533 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Elevance Health by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock valued at $279,063,000 after buying an additional 234,439 shares during the last quarter. Schroder Investment Management Group raised its stake in Elevance Health by 18.2% during the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock valued at $579,493,000 after buying an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Elevance Health by 59.3% during the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock valued at $214,011,000 after buying an additional 182,889 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on ELV shares. Wells Fargo & Company boosted their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Mizuho boosted their price target on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group boosted their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Royal Bank of Canada upped their price objective on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, UBS Group upped their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One equities research 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, the company presently has an average rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Price Performance

Shares of NYSE:ELV traded up $2.97 during mid-day trading on Monday, reaching $529.93. The stock had a trading volume of 750,918 shares, compared to its average volume of 1,049,890. 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 company has a market cap of $123.17 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The business’s 50 day moving average price is $513.54 and its 200 day moving average price is $489.21.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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 return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the prior year, the business posted $9.46 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s payout ratio is 24.64%.

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction 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 sale, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.