Elevance Health, Inc. (NYSE:ELV) Stock Holdings Lowered by SVB Wealth LLC

SVB Wealth LLC cut its position in Elevance Health, Inc. (NYSE:ELV) by 19.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,215 shares of the company’s stock after selling 9,307 shares during the quarter. SVB Wealth LLC’s holdings in Elevance Health were worth $18,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after purchasing an additional 9,199 shares in the last quarter. Chicago Capital LLC raised its position in shares of Elevance Health by 244.2% during the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after buying an additional 4,986 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Elevance Health in the 4th quarter worth approximately $2,235,000. International Assets Investment Management LLC boosted its holdings in shares of Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after acquiring an additional 255,138 shares in the last quarter. Finally, Avitas Wealth Management LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at approximately $2,137,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ELV. Barclays initiated coverage on Elevance Health in a research note on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target for the company. Royal Bank of Canada lifted their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $569.00.

Elevance Health Trading Up 1.5 %

Shares of NYSE:ELV traded up $7.37 during mid-day trading on Tuesday, hitting $507.46. The stock had a trading volume of 346,523 shares, compared to its average volume of 1,016,373. The company’s 50 day moving average is $507.68 and its 200-day moving average is $481.59. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $521.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $118.09 billion, a PE ratio of 19.88, a P/E/G ratio of 1.09 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. During the same quarter in the prior year, the company earned $5.23 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $1.63 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

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.