Securian Asset Management Inc. Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Securian Asset Management Inc. lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,420 shares of the company’s stock after selling 383 shares during the period. Securian Asset Management Inc.’s holdings in Elevance Health were worth $4,582,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Mesirow Financial Investment Management Inc. grew its position in Elevance Health by 12.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 555 shares of the company’s stock valued at $289,000 after buying an additional 62 shares during the period. Sigma Planning Corp grew its position in shares of Elevance Health by 4.8% during the 3rd quarter. Sigma Planning Corp now owns 2,385 shares of the company’s stock valued at $1,240,000 after acquiring an additional 109 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Elevance Health during the 3rd quarter worth approximately $96,000. Versor Investments LP bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $455,000. Finally, GSA Capital Partners LLP purchased a new position in Elevance Health in the third quarter valued at approximately $518,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent research reports. Truist Financial decreased their target price 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. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Barclays boosted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 2.3 %

Shares of NYSE ELV opened at $412.13 on Thursday. 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 has a 50-day moving average of $393.40 and a 200-day moving average of $431.42. The firm has a market capitalization of $93.70 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.66%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 26.71%.

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.