Elevance Health, Inc. (NYSE:ELV) Shares Sold by Oxford Financial Group LTD. LLC

Oxford Financial Group LTD. LLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,110 shares of the company’s stock after selling 28 shares during the period. Oxford Financial Group LTD. LLC’s holdings in Elevance Health were worth $409,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELV. Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $30,000. Pecaut & CO. acquired a new position in shares of Elevance Health in the 4th quarter valued at about $258,000. Whittier Trust Co. of Nevada Inc. increased its stake in Elevance Health by 4.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 36,806 shares of the company’s stock valued at $13,577,000 after buying an additional 1,446 shares during the period. Northwest & Ethical Investments L.P. raised its holdings in shares of Elevance Health by 69.3% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 27,043 shares of the company’s stock worth $9,976,000 after acquiring an additional 11,066 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth about $402,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Monday, March 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Trading Down 1.6 %

NYSE:ELV opened at $427.27 on Friday. 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. The company has a market cap of $97.14 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The business has a 50 day moving average price of $400.52 and a two-hundred day moving average price of $426.27.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, analysts expect that Elevance Health, Inc. will post 33.96 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. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. 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 positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was 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 of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred 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 owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

About Elevance Health

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.