Elevance Health, Inc. (NYSE:ELV) Stake Cut by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 4.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,381 shares of the company’s stock after selling 154 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Elevance Health were worth $1,247,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ELV. Principal Financial Group Inc. increased its holdings in shares of Elevance Health by 4.5% during the third quarter. Principal Financial Group Inc. now owns 272,649 shares of the company’s stock valued at $141,777,000 after purchasing an additional 11,646 shares during the period. Consolidated Planning Corp acquired a new position in Elevance Health during the third quarter worth about $444,000. TFB Advisors LLC grew its holdings in Elevance Health by 23.6% during the third quarter. TFB Advisors LLC now owns 540 shares of the company’s stock worth $281,000 after acquiring an additional 103 shares during the period. Leavell Investment Management Inc. grew its holdings in Elevance Health by 3.4% during the third quarter. Leavell Investment Management Inc. now owns 6,165 shares of the company’s stock worth $3,206,000 after acquiring an additional 200 shares during the period. Finally, Equitable Trust Co. grew its holdings in Elevance Health by 159.6% during the third quarter. Equitable Trust Co. now owns 1,760 shares of the company’s stock worth $915,000 after acquiring an additional 1,082 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research analyst reports. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus reaffirmed a “hold” rating and set a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Truist Financial dropped their price target on 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 reissued an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Finally, Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Price Performance

Shares of ELV stock opened at $409.59 on Friday. The stock’s fifty day moving average is $390.64 and its 200-day moving average is $434.13. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $93.12 billion, a PE ratio of 15.99, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS 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 expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.67%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Buying and Selling at Elevance Health

In other Elevance Health 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.