Truepoint Inc. Sells 217 Shares of Elevance Health, Inc. (NYSE:ELV)

Truepoint Inc. trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 22.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 770 shares of the company’s stock after selling 217 shares during the quarter. Truepoint Inc.’s holdings in Elevance Health were worth $284,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Dunhill Financial LLC lifted its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Tobam lifted its stake in Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Jacobi Capital Management LLC boosted its position in Elevance Health by 3.2% during the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after acquiring an additional 27 shares during the last quarter. Austin Private Wealth LLC grew its stake in shares of Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after acquiring an additional 29 shares in the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after purchasing an additional 30 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

Shares of ELV stock opened at $434.44 on Friday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a market capitalization of $98.77 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.18 and a beta of 0.86. The company has a 50-day simple moving average of $399.60 and a 200 day simple moving average of $427.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Monday. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial reduced their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $519.81.

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.