Eagle Global Advisors LLC Sells 639 Shares of Elevance Health, Inc. (NYSE:ELV)

Eagle Global Advisors LLC lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,802 shares of the company’s stock after selling 639 shares during the quarter. Elevance Health accounts for about 1.6% of Eagle Global Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Eagle Global Advisors LLC’s holdings in Elevance Health were worth $25,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Elevance Health in the fourth quarter valued at about $1,347,434,000. Massachusetts Financial Services Co. MA acquired a new position in Elevance Health in the fourth quarter valued at about $467,141,000. Canoe Financial LP lifted its position in shares of Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after purchasing an additional 517,116 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Elevance Health by 45,888.1% during the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after purchasing an additional 255,138 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock worth $159,726,000 after purchasing an additional 249,533 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 4.1 %

NYSE:ELV traded down $22.53 during trading hours on Friday, hitting $521.41. The stock had a trading volume of 1,531,900 shares, compared to its average volume of 1,013,796. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $550.34. 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 company has a market cap of $121.19 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 1.21 and a beta of 0.79. The business’s 50 day moving average is $523.51 and its 200-day moving average is $497.36.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the prior year, the firm earned $9.46 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is 24.64%.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. UBS Group upped their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Mizuho upped their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays upped their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Buy” and an average target price of $587.42.

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.