Peoples Bank KS Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Peoples Bank KS lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,694 shares of the company’s stock after selling 130 shares during the period. Peoples Bank KS’s holdings in Elevance Health were worth $1,363,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Private Advisor Group LLC raised its position in shares of Elevance Health by 7.2% during the 2nd quarter. Private Advisor Group LLC now owns 13,103 shares of the company’s stock worth $7,100,000 after acquiring an additional 876 shares in the last quarter. Norden Group LLC lifted its position in shares of Elevance Health by 10.7% during the 2nd quarter. Norden Group LLC now owns 485 shares of the company’s stock worth $263,000 after buying an additional 47 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Elevance Health in the 2nd quarter valued at $30,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Elevance Health in the 2nd quarter valued at $142,000. Finally, Choreo LLC grew its position in shares of Elevance Health by 324.9% in the 2nd quarter. Choreo LLC now owns 5,184 shares of the company’s stock valued at $2,775,000 after buying an additional 3,964 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ELV. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company cut their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $536.53.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Elevance Health Trading Up 0.2 %

Shares of ELV opened at $380.47 on Wednesday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $88.24 billion, a P/E ratio of 13.87, a PEG ratio of 1.15 and a beta of 0.84. The firm’s 50-day moving average is $393.06 and its two-hundred day moving average is $474.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.99 EPS. On average, research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.71%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

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.