Waldron Private Wealth LLC Sells 60 Shares of Elevance Health, Inc. (NYSE:ELV)

Waldron Private Wealth LLC reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,040 shares of the company’s stock after selling 60 shares during the period. Waldron Private Wealth LLC’s holdings in Elevance Health were worth $490,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Sanders Capital LLC increased its position in Elevance Health by 1.4% in the 3rd quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock worth $1,855,750,000 after buying an additional 58,013 shares during the period. Alliancebernstein L.P. increased its position in Elevance Health by 13.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,214,663 shares of the company’s stock worth $1,428,243,000 after buying an additional 372,937 shares during the period. Nuveen Asset Management LLC increased its position in Elevance Health by 1.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,143,404 shares of the company’s stock worth $1,396,583,000 after buying an additional 56,204 shares during the period. Baillie Gifford & Co. increased its position in shares of Elevance Health by 0.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after purchasing an additional 27,986 shares during the period. Finally, Morgan Stanley increased its position in shares of Elevance Health by 1.7% during the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after purchasing an additional 46,322 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ELV. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Barclays started coverage on Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Royal Bank of Canada boosted their price objective on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $569.00.

Elevance Health Trading Up 0.6 %

Shares of ELV opened at $500.27 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $521.18. The firm has a market capitalization of $116.41 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.09 and a beta of 0.78. The stock’s fifty day simple moving average is $507.68 and its 200-day simple moving average is $481.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The business had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.23 earnings per share. As a group, research analysts predict that Elevance Health, Inc. will post 37.03 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio is currently 25.90%.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

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.