1,475 Shares in Elevance Health, Inc. (NYSE:ELV) Purchased by Heritage Trust Co

Heritage Trust Co acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,475 shares of the company’s stock, valued at approximately $544,000.

Other large investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in Elevance Health during the fourth quarter valued at $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $29,000. Lee Danner & Bass Inc. bought a new position in shares of Elevance Health in the 4th quarter worth about $30,000. Finally, Crews Bank & Trust acquired a new position in shares of Elevance Health in the 4th quarter valued at about $34,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

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

Elevance Health Price Performance

NYSE:ELV opened at $439.80 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average price is $412.93 and its 200 day moving average price is $413.32. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a market cap of $99.56 billion, a P/E ratio of 17.17, a PEG ratio of 1.18 and a beta of 0.77.

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

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.56%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ELV. Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Truist Financial raised their price target on Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a report on Friday. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Finally, Mizuho boosted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $521.47.

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.