Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 43 Shares of Elevance Health, Inc. (NYSE:ELV)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 7.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 522 shares of the company’s stock after selling 43 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Elevance Health were worth $258,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in Elevance Health during the 3rd quarter valued at $25,000. ORG Partners LLC bought a new stake in Elevance Health during the 4th quarter valued at $40,000. Orion Capital Management LLC bought a new stake in Elevance Health during the 3rd quarter valued at $46,000. Milestone Investment Advisors LLC bought a new stake in Elevance Health during the 3rd quarter valued at $51,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Elevance Health during the 4th quarter valued at $56,000. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Barclays lifted their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, UBS Group lifted their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $587.64.

Elevance Health Stock Up 0.8 %

ELV stock traded up $4.42 on Tuesday, hitting $536.64. 325,722 shares of the company’s stock were exchanged, compared to its average volume of 1,059,806. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The firm has a 50 day moving average price of $509.68 and a two-hundred day moving average price of $484.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $124.73 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the previous year, the business earned $9.46 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts expect that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

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.