Keybank National Association OH Sells 1,192 Shares of Elevance Health, Inc. (NYSE:ELV)

Keybank National Association OH trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,388 shares of the company’s stock after selling 1,192 shares during the quarter. Keybank National Association OH’s holdings in Elevance Health were worth $3,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ELV. Stifel Financial Corp lifted its holdings in shares of Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after buying an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the period. Wellington Management Group LLP raised its holdings in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the period. World Investment Advisors LLC bought a new position in Elevance Health in the 3rd quarter worth $129,221,000. Finally, Proficio Capital Partners LLC raised its holdings in Elevance Health by 49,164.4% in the 4th quarter. Proficio Capital Partners LLC now owns 231,050 shares of the company’s stock worth $85,234,000 after purchasing an additional 230,581 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Argus reaffirmed a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by company insiders.

Elevance Health Trading Up 0.1 %

Shares of Elevance Health stock opened at $397.67 on Thursday. The firm has a market cap of $90.41 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.18 and a beta of 0.83. The business has a 50-day moving average price of $389.26 and a 200-day moving average price of $436.03. 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.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.72%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) 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.