Elevance Health, Inc. (NYSE:ELV) Shares Sold by Glenview Trust co

Glenview Trust co cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 27.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,038 shares of the company’s stock after selling 391 shares during the quarter. Glenview Trust co’s holdings in Elevance Health were worth $383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sovereign Investment Advisors LLC acquired a new position in shares of Elevance Health during the fourth quarter worth about $279,000. Greatmark Investment Partners Inc. grew its position in shares of Elevance Health by 24.3% during the fourth quarter. Greatmark Investment Partners Inc. now owns 23,928 shares of the company’s stock worth $8,827,000 after buying an additional 4,678 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Elevance Health by 47.6% during the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after buying an additional 1,039,612 shares in the last quarter. Intact Investment Management Inc. grew its position in shares of Elevance Health by 135.8% during the fourth quarter. Intact Investment Management Inc. now owns 4,150 shares of the company’s stock worth $1,531,000 after buying an additional 2,390 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC grew its position in shares of Elevance Health by 14.8% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 5,832 shares of the company’s stock worth $2,151,000 after buying an additional 750 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the company’s 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 transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on 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 directly owns 10,116 shares in the company, valued at $4,008,970.80. This 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 Analysts Forecast Growth

A number of brokerages have recently commented on ELV. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Finally, Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Monday. Three investment 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. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Trading Up 2.5 %

NYSE:ELV opened at $431.29 on Tuesday. The firm has a market cap of $98.06 billion, a P/E ratio of 16.84, a PEG ratio of 1.18 and a beta of 0.86. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock’s 50 day simple moving average is $396.48 and its 200-day simple moving average is $427.94. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

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

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. 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. Elevance Health’s payout ratio is presently 26.71%.

Elevance Health Company 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.