Elevance Health, Inc. (NYSE:ELV) Shares Sold by RWA Wealth Partners LLC

RWA Wealth Partners LLC reduced its position in Elevance Health, Inc. (NYSE:ELV) by 37.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,633 shares of the company’s stock after selling 25,198 shares during the period. RWA Wealth Partners LLC’s holdings in Elevance Health were worth $15,359,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ELV. Vanguard Group Inc. lifted its position in Elevance Health by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock valued at $7,926,028,000 after buying an additional 138,380 shares in the last quarter. State Street Corp lifted its holdings in shares of Elevance Health by 1.2% during the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after acquiring an additional 129,709 shares in the last quarter. Geode Capital Management LLC boosted its position in Elevance Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after purchasing an additional 85,770 shares during the period. Wellington Management Group LLP increased its holdings in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its position in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Truist Financial lowered their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a report on Friday. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Stock Down 0.0 %

Shares of NYSE:ELV opened at $431.84 on Friday. The company’s fifty day moving average is $404.45 and its two-hundred day moving average is $421.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market capitalization of $98.18 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

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

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’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 sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % 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 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.