Financial Counselors Inc. Sells 60 Shares of Elevance Health, Inc. (NYSE:ELV)

Financial Counselors Inc. decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,893 shares of the company’s stock after selling 60 shares during the quarter. Financial Counselors Inc.’s holdings in Elevance Health were worth $698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fisher Asset Management LLC grew its stake in shares of Elevance Health by 3.8% in the 3rd quarter. Fisher Asset Management LLC now owns 838 shares of the company’s stock valued at $436,000 after purchasing an additional 31 shares during the period. Townsquare Capital LLC boosted its stake in shares of Elevance Health by 6.3% in the 3rd quarter. Townsquare Capital LLC now owns 8,727 shares of the company’s stock valued at $4,538,000 after purchasing an additional 517 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Elevance Health by 12.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,032 shares of the company’s stock worth $5,217,000 after purchasing an additional 1,100 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Elevance Health by 0.7% during the 3rd quarter. Captrust Financial Advisors now owns 38,974 shares of the company’s stock worth $20,267,000 after purchasing an additional 286 shares in the last quarter. Finally, PFM Health Sciences LP lifted its holdings in Elevance Health by 2.2% during the 3rd quarter. PFM Health Sciences LP now owns 56,441 shares of the company’s stock valued at $29,349,000 after purchasing an additional 1,191 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Down 0.0 %

Shares of NYSE ELV opened at $431.84 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company’s fifty day moving average is $404.45 and its 200-day moving average is $422.13. The stock has a market cap of $98.18 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.58%. This is a boost 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%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Barclays raised their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company decreased their price target 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. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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.