Astoria Portfolio Advisors LLC. Sells 37 Shares of Elevance Health, Inc. (NYSE:ELV)

Astoria Portfolio Advisors LLC. trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.5% during the first quarter, Holdings Channel reports. The institutional investor owned 787 shares of the company’s stock after selling 37 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in Elevance Health were worth $393,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ELV. Paralel Advisors LLC lifted its stake in shares of Elevance Health by 1.1% in the third quarter. Paralel Advisors LLC now owns 4,160 shares of the company’s stock valued at $1,811,000 after buying an additional 47 shares in the last quarter. Mutual Advisors LLC lifted its stake in shares of Elevance Health by 24.8% in the third quarter. Mutual Advisors LLC now owns 2,215 shares of the company’s stock valued at $965,000 after buying an additional 440 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Elevance Health by 13.9% during the third quarter. Bank of Nova Scotia now owns 21,895 shares of the company’s stock valued at $9,533,000 after purchasing an additional 2,671 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of Elevance Health during the third quarter valued at about $542,000. Finally, Gotham Asset Management LLC lifted its position in shares of Elevance Health by 33.8% during the third quarter. Gotham Asset Management LLC now owns 10,099 shares of the company’s stock valued at $4,397,000 after purchasing an additional 2,551 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of 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 filing with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research report on Wednesday, June 12th. Morgan Stanley assumed coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. Jefferies Financial Group raised their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada raised their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $611.36.

Elevance Health Price Performance

ELV opened at $541.92 on Friday. The company has a market capitalization of $125.95 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.18 and a beta of 0.83. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $534.36 and a 200-day moving average price of $508.67. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $550.34.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.46 earnings per share. Equities analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.20%. Elevance Health’s dividend payout ratio is currently 24.64%.

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.