Elevance Health, Inc. (NYSE:ELV) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in Elevance Health, Inc. (NYSE:ELV) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,696 shares of the company’s stock after selling 9,394 shares during the period. Truist Financial Corp owned approximately 0.11% of Elevance Health worth $92,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lifeworks Advisors LLC boosted its stake in shares of Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the last quarter. Catalyst Financial Partners LLC lifted its stake in shares of Elevance Health by 2.9% during the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after buying an additional 26 shares during the period. Fullcircle Wealth LLC grew its stake in Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after acquiring an additional 26 shares during the period. Dunhill Financial LLC grew its stake in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Elevance Health by 5.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock worth $263,000 after purchasing an additional 27 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.5 %

Shares of ELV opened at $389.58 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a market cap of $90.35 billion, a PE ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83. The stock’s 50-day moving average is $385.08 and its two-hundred day moving average is $448.13.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities analysts forecast that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

ELV has been the topic of several analyst reports. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Mizuho lowered their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

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.