Insigneo Advisory Services LLC Reduces Position in Elevance Health, Inc. (NYSE:ELV)

Insigneo Advisory Services LLC reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 763 shares of the company’s stock after selling 117 shares during the period. Insigneo Advisory Services LLC’s holdings in Elevance Health were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mutual Advisors LLC boosted its holdings in shares of Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after purchasing an additional 52 shares during the last quarter. Czech National Bank lifted its position in Elevance Health by 6.5% during the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after buying an additional 3,049 shares in the last quarter. Diversified Trust Co grew its holdings in Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after buying an additional 2,725 shares in the last quarter. JB Capital LLC increased its stake in shares of Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after acquiring an additional 8,038 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Elevance Health by 60.6% during the 3rd quarter. Tidal Investments LLC now owns 10,485 shares of the company’s stock worth $5,452,000 after acquiring an additional 3,956 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Guggenheim began coverage on shares of Elevance Health in a research report on Wednesday, April 9th. They set a “buy” rating and a $518.00 price target on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday. Truist Financial lifted their target price on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, Baird R W cut Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $514.41.

Elevance Health Stock Down 2.4 %

Shares of NYSE ELV opened at $424.44 on Friday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market cap of $96.09 billion, a P/E ratio of 16.57, a PEG ratio of 1.18 and a beta of 0.77. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $416.77 and its 200-day simple moving average is $411.07.

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

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Elevance Health Company 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.