Elevance Health, Inc. (NYSE:ELV) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,161 shares of the company’s stock after selling 929 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Elevance Health were worth $7,806,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raelipskie Partnership acquired a new position in shares of Elevance Health during the 3rd quarter worth about $26,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management acquired a new position in Elevance Health in the fourth quarter valued at about $29,000. Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the 4th quarter valued at approximately $30,000. Finally, Crews Bank & Trust purchased a new position in Elevance Health during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $430.29 on Thursday. The firm has a market cap of $97.83 billion, a P/E ratio of 16.80, a PEG ratio of 1.18 and a beta of 0.86. The stock’s 50-day moving average is $402.56 and its two-hundred day moving average is $422.85. 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 fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 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%. Analysts predict 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. Investors of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Insider Activity

In other news, CAO Ronald W. Penczek sold 443 shares of the 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 sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent research reports. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Monday, March 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

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.