Stock Yards Bank & Trust Co. Cuts Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Stock Yards Bank & Trust Co. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,194 shares of the company’s stock after selling 221 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Elevance Health were worth $1,916,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Czech National Bank grew its position in shares of Elevance Health by 6.7% in the third quarter. Czech National Bank now owns 47,237 shares of the company’s stock valued at $24,563,000 after purchasing an additional 2,947 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Elevance Health by 19.3% in the third quarter. GAMMA Investing LLC now owns 3,098 shares of the company’s stock valued at $1,611,000 after purchasing an additional 502 shares in the last quarter. Chemistry Wealth Management LLC grew its position in shares of Elevance Health by 4.0% in the third quarter. Chemistry Wealth Management LLC now owns 6,793 shares of the company’s stock valued at $3,533,000 after purchasing an additional 261 shares in the last quarter. Eagle Rock Investment Company LLC grew its position in shares of Elevance Health by 25.1% in the third quarter. Eagle Rock Investment Company LLC now owns 14,069 shares of the company’s stock valued at $7,316,000 after purchasing an additional 2,826 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its position in shares of Elevance Health by 4.0% in the third quarter. Miracle Mile Advisors LLC now owns 1,442 shares of the company’s stock valued at $750,000 after purchasing an additional 56 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Argus reiterated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Up 2.5 %

Shares of NYSE ELV opened at $405.54 on Tuesday. The stock has a market cap of $94.05 billion, a P/E ratio of 15.84, a PEG ratio of 1.19 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business’s fifty day simple moving average is $386.50 and its 200-day simple moving average is $456.70.

Elevance Health (NYSE:ELV) last announced 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, equities analysts predict that Elevance Health, Inc. will post 34.07 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business 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. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

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.