GC Wealth Management RIA LLC Sells 43 Shares of Elevance Health, Inc. (NYSE:ELV)

GC Wealth Management RIA LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 6.8% in the fourth quarter, HoldingsChannel reports. The fund owned 585 shares of the company’s stock after selling 43 shares during the period. GC Wealth Management RIA LLC’s holdings in Elevance Health were worth $216,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ELV. CWA Asset Management Group LLC bought a new stake in shares of Elevance Health in the third quarter valued at about $469,000. Assetmark Inc. boosted its position in shares of Elevance Health by 1.8% in the third quarter. Assetmark Inc. now owns 12,135 shares of the company’s stock valued at $6,310,000 after acquiring an additional 220 shares during the period. Mesirow Financial Investment Management Inc. boosted its position in shares of Elevance Health by 12.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 555 shares of the company’s stock valued at $289,000 after acquiring an additional 62 shares during the period. Sigma Planning Corp raised its stake in Elevance Health by 4.8% in the third quarter. Sigma Planning Corp now owns 2,385 shares of the company’s stock valued at $1,240,000 after purchasing an additional 109 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Elevance Health in the third quarter valued at about $96,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ELV. Argus reaffirmed a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Finally, Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Up 3.4 %

Shares of NYSE ELV opened at $423.44 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The company has a market cap of $96.27 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a 50-day moving average price of $392.54 and a two-hundred day moving average price of $431.56.

Elevance Health (NYSE:ELV) last released 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 return on equity of 18.28% and a net margin of 3.38%. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 26.71%.

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.