Treasurer of the State of North Carolina Sells 2,270 Shares of Elevance Health, Inc. (NYSE:ELV)

Treasurer of the State of North Carolina decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,035 shares of the company’s stock after selling 2,270 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Elevance Health were worth $38,747,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health during the fourth quarter worth $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health in the 4th quarter worth $29,000. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth $29,000. Lee Danner & Bass Inc. bought a new stake in Elevance Health during the fourth quarter valued at about $30,000. Finally, Crews Bank & Trust purchased a new position in Elevance Health in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.1 %

Elevance Health stock opened at $436.08 on Friday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $98.72 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The stock has a 50-day moving average price of $412.18 and a 200 day moving average price of $413.88.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. 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 disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 26.71%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of 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 disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several analyst reports. Mizuho increased their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Guggenheim began coverage on Elevance Health in a report on Wednesday. They set a “buy” rating and a $518.00 price objective for the company. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $519.71.

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.