IHT Wealth Management LLC Trims Stake in Elevance Health, Inc. (NYSE:ELV)

IHT Wealth Management LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 49.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 758 shares of the company’s stock after selling 748 shares during the period. IHT Wealth Management LLC’s holdings in Elevance Health were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ELV. OneDigital Investment Advisors LLC boosted its stake in shares of Elevance Health by 11.3% during the 4th quarter. OneDigital Investment Advisors LLC now owns 7,823 shares of the company’s stock worth $2,886,000 after purchasing an additional 795 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Elevance Health by 0.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 16,616 shares of the company’s stock worth $6,128,000 after acquiring an additional 46 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Elevance Health by 71.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,775 shares of the company’s stock worth $4,713,000 after acquiring an additional 5,320 shares during the period. Trajan Wealth LLC raised its holdings in Elevance Health by 5.7% in the 4th quarter. Trajan Wealth LLC now owns 52,381 shares of the company’s stock valued at $19,323,000 after acquiring an additional 2,839 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in shares of Elevance Health during the 4th quarter worth $1,365,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $421.55 on Monday. 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 1 year low of $362.21 and a 1 year high of $567.26. The firm’s 50-day simple moving average is $420.00 and its 200-day simple moving average is $407.30. The firm has a market cap of $95.43 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Insider Buying and Selling

In other news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock worth $3,521,612 over the last quarter. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Barclays upped their price target on Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Truist Financial raised their price target on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $509.44.

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.