First American Trust FSB Sells 26,132 Shares of Elevance Health, Inc. (NYSE:ELV)

First American Trust FSB decreased its position in Elevance Health, Inc. (NYSE:ELV) by 90.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,828 shares of the company’s stock after selling 26,132 shares during the quarter. First American Trust FSB’s holdings in Elevance Health were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Raelipskie Partnership purchased a new position in shares of Elevance Health in the third quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the fourth quarter worth approximately $26,000. OFI Invest Asset Management purchased a new position in shares of Elevance Health during the 4th quarter worth $29,000. Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health during the 4th quarter valued at $30,000. Finally, Crews Bank & Trust purchased a new stake in shares of Elevance Health in the 4th quarter worth $34,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Elevance Health stock opened at $427.62 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. The firm has a market capitalization of $97.22 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company’s 50-day moving average is $401.13 and its 200 day moving average is $423.64.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ELV shares. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a report on Monday, March 17th. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Truist Financial decreased their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Finally, Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

About Elevance Health

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.