Independent Advisor Alliance Sells 4,511 Shares of Elevance Health, Inc. (NYSE:ELV)

Independent Advisor Alliance cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 53.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,990 shares of the company’s stock after selling 4,511 shares during the period. Independent Advisor Alliance’s holdings in Elevance Health were worth $1,472,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Meriwether Wealth & Planning LLC bought a new stake in Elevance Health during the fourth quarter worth approximately $592,000. Daiwa Securities Group Inc. lifted its stake in shares of Elevance Health by 11.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 32,291 shares of the company’s stock valued at $11,913,000 after purchasing an additional 3,190 shares during the last quarter. Roberts Glore & Co. Inc. IL boosted its holdings in shares of Elevance Health by 229.2% in the 4th quarter. Roberts Glore & Co. Inc. IL now owns 2,212 shares of the company’s stock worth $816,000 after purchasing an additional 1,540 shares during the period. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 4th quarter valued at approximately $29,000. Finally, United Community Bank raised its holdings in Elevance Health by 9.6% during the 4th quarter. United Community Bank now owns 1,760 shares of the company’s stock valued at $649,000 after buying an additional 154 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The stock was 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. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ELV has been the subject of several recent analyst reports. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Argus restated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company reduced their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Price Performance

Shares of ELV stock opened at $421.72 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. 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 stock has a fifty day simple moving average of $395.45 and a two-hundred day simple moving average of $430.47. The stock has a market capitalization of $95.88 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. On average, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) 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.