Townsquare Capital LLC Sells 2,360 Shares of Elevance Health, Inc. (NYSE:ELV)

Townsquare Capital LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 27.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,367 shares of the company’s stock after selling 2,360 shares during the period. Townsquare Capital LLC’s holdings in Elevance Health were worth $2,349,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Elevance Health during the third quarter worth approximately $2,828,000. Te Ahumairangi Investment Management Ltd grew its holdings in Elevance Health by 39.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company’s stock valued at $5,433,000 after buying an additional 2,983 shares in the last quarter. Tudor Financial Inc. bought a new position in Elevance Health during the 3rd quarter worth $235,000. Anchor Investment Management LLC lifted its holdings in shares of Elevance Health by 22.9% during the third quarter. Anchor Investment Management LLC now owns 6,098 shares of the company’s stock worth $3,171,000 after buying an additional 1,135 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in shares of Elevance Health in the third quarter valued at about $8,855,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 0.8 %

Shares of Elevance Health stock opened at $437.83 on Wednesday. The firm’s 50 day moving average is $414.67 and its 200 day moving average is $412.17. The firm has a market capitalization of $99.12 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a $1.71 dividend. The ex-dividend date was Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.56%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Mizuho increased their price target on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $514.41.

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.