Level Four Advisory Services LLC Sells 2,403 Shares of Elevance Health, Inc. (NYSE:ELV)

Level Four Advisory Services LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 18.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,810 shares of the company’s stock after selling 2,403 shares during the period. Level Four Advisory Services LLC’s holdings in Elevance Health were worth $3,988,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ELV. Dunhill Financial LLC grew its stake in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. Tobam increased its holdings in shares of Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after purchasing an additional 27 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after buying an additional 27 shares in the last quarter. Austin Private Wealth LLC boosted its stake in Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after buying an additional 29 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after buying an additional 30 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ELV shares. Barclays upped their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $519.81.

Insider Activity at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm’s 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 transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Elevance Health Price Performance

ELV opened at $431.84 on Friday. The business has a fifty day moving average of $404.45 and a 200 day moving average of $422.13. The stock has a market cap of $98.18 billion, a P/E ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. 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 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last issued 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 net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

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.