Community Bank N.A. Has $2.22 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Community Bank N.A. boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 19.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,025 shares of the company’s stock after acquiring an additional 990 shares during the quarter. Community Bank N.A.’s holdings in Elevance Health were worth $2,222,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ELV. Connor Clark & Lunn Investment Management Ltd. raised its position in Elevance Health by 460.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,923 shares of the company’s stock valued at $2,560,000 after purchasing an additional 4,044 shares during the last quarter. Advisors Asset Management Inc. raised its position in Elevance Health by 57.4% in the third quarter. Advisors Asset Management Inc. now owns 8,377 shares of the company’s stock valued at $4,356,000 after purchasing an additional 3,054 shares during the last quarter. First Horizon Advisors Inc. raised its position in Elevance Health by 6.5% in the third quarter. First Horizon Advisors Inc. now owns 854 shares of the company’s stock valued at $444,000 after purchasing an additional 52 shares during the last quarter. LPL Financial LLC raised its position in Elevance Health by 7.8% in the third quarter. LPL Financial LLC now owns 188,074 shares of the company’s stock valued at $97,798,000 after purchasing an additional 13,619 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Elevance Health by 45.1% in the third quarter. Pacer Advisors Inc. now owns 24,588 shares of the company’s stock valued at $12,786,000 after purchasing an additional 7,641 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ELV shares. 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 report on Monday, March 17th. Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. 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. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Trading Down 1.6 %

Shares of Elevance Health stock opened at $427.27 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The stock has a 50 day moving average price of $400.52 and a two-hundred day moving average price of $425.32. The stock has a market capitalization of $97.14 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 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%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.