Indiana Trust & Investment Management Co Sells 34 Shares of Elevance Health, Inc. (NYSE:ELV)

Indiana Trust & Investment Management Co decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 619 shares of the company’s stock after selling 34 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Elevance Health were worth $228,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp lifted its position in shares of Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after acquiring an additional 129,709 shares during the period. Geode Capital Management LLC raised its stake in shares of Elevance Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after purchasing an additional 85,770 shares in the last quarter. Sanders Capital LLC raised its stake in shares of Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after purchasing an additional 44,805 shares in the last quarter. Wellington Management Group LLP lifted its position in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ELV shares. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Argus reaffirmed a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Morgan Stanley lowered their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Price Performance

ELV opened at $391.04 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company’s 50 day simple moving average is $385.59 and its 200-day simple moving average is $452.12. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The stock has a market capitalization of $90.69 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Sell-side analysts anticipate that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. Elevance Health’s payout ratio is currently 25.46%.

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.