Elevance Health, Inc. (NYSE:ELV) Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 283 shares of the company’s stock after selling 65 shares during the quarter. MV Capital Management Inc.’s holdings in Elevance Health were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ELV. Allianz SE purchased a new position in Elevance Health during the fourth quarter valued at $5,339,000. Transamerica Financial Advisors Inc. lifted its stake in Elevance Health by 20,500.0% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 206 shares of the company’s stock valued at $76,000 after buying an additional 205 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the 4th quarter valued at $29,000. Allstate Corp purchased a new stake in shares of Elevance Health during the fourth quarter worth $2,555,000. Finally, DnB Asset Management AS grew its holdings in shares of Elevance Health by 5.8% during the fourth quarter. DnB Asset Management AS now owns 59,246 shares of the company’s stock worth $21,856,000 after buying an additional 3,263 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV opened at $431.84 on Friday. 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 has a market cap of $98.18 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86. The stock has a 50-day moving average of $404.45 and a two-hundred day moving average of $422.13. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ELV. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Finally, Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $519.81.

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.