Sentry LLC Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

Sentry LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 4.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,189 shares of the company’s stock after purchasing an additional 146 shares during the period. Elevance Health accounts for about 0.3% of Sentry LLC’s investment portfolio, making the stock its 29th biggest position. Sentry LLC’s holdings in Elevance Health were worth $1,387,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Milestone Asset Management LLC raised its position in Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock valued at $488,000 after purchasing an additional 24 shares during the period. Jacobi Capital Management LLC raised its position in Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares during the period. McLean Asset Management Corp raised its position in Elevance Health by 2.3% in the first quarter. McLean Asset Management Corp now owns 1,439 shares of the company’s stock valued at $620,000 after purchasing an additional 32 shares during the period. Keystone Financial Services raised its position in Elevance Health by 2.4% in the fourth quarter. Keystone Financial Services now owns 1,436 shares of the company’s stock valued at $530,000 after purchasing an additional 33 shares during the period. Finally, Accurate Wealth Management LLC raised its position in Elevance Health by 5.1% in the first quarter. Accurate Wealth Management LLC now owns 674 shares of the company’s stock valued at $296,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Guggenheim reissued a “buy” rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Mizuho boosted their target price on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Baird R W downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Barclays dropped their price target on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating for the company in a research note on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $498.87.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Elevance Health Trading Down 0.4%

Shares of Elevance Health stock opened at $384.49 on Monday. Elevance Health, Inc. has a 52-week low of $357.45 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company’s 50-day simple moving average is $404.71 and its 200-day simple moving average is $400.15. The firm has a market cap of $86.87 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health’s payout ratio is currently 26.69%.

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.