Elevance Health, Inc. (NYSE:ELV) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 368 shares of the company’s stock after selling 26 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Elevance Health were worth $174,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several research firms have recently commented on ELV. Barclays raised their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. UBS Group lifted their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Wells Fargo & Company lifted their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by company insiders.

Elevance Health Price Performance

ELV stock opened at $533.79 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $539.11. The firm has a market cap of $124.06 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. The stock has a 50-day simple moving average of $510.78 and a 200-day simple moving average of $485.44.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm earned $9.46 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.