Parkside Financial Bank & Trust Has $174,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Parkside Financial Bank & Trust decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 368 shares of the company’s stock after selling 26 shares during the period. Parkside Financial Bank & Trust’s holdings in Elevance Health were worth $174,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. abrdn plc boosted its position in Elevance Health by 86.8% during the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after purchasing an additional 129,364 shares during the last quarter. Cerity Partners LLC raised its holdings in Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after buying an additional 9,199 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Elevance Health during the fourth quarter valued at about $218,000. Chicago Capital LLC raised its holdings in Elevance Health by 244.2% during the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after buying an additional 4,986 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in Elevance Health during the fourth quarter valued at about $2,235,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 0.2 %

Shares of ELV opened at $533.79 on Thursday. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $124.06 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.18 and a beta of 0.78. The stock’s 50-day moving average price is $510.78 and its 200 day moving average price is $485.44.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same period in the previous year, the company posted $9.46 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s dividend payout ratio is 24.64%.

Analyst Ratings Changes

Several equities analysts have weighed in on ELV shares. UBS Group raised their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Royal Bank of Canada raised their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Wells Fargo & Company raised their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Jefferies Financial Group lifted their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Mizuho lifted their price objective on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

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.