Elevance Health, Inc. (NYSE:ELV) Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC lessened its position in Elevance Health, Inc. (NYSE:ELV) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,061 shares of the company’s stock after selling 43 shares during the period. Signet Financial Management LLC’s holdings in Elevance Health were worth $500,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Buffington Mohr McNeal increased its stake in Elevance Health by 6.6% during the 4th quarter. Buffington Mohr McNeal now owns 7,618 shares of the company’s stock valued at $3,592,000 after buying an additional 470 shares during the period. Capital Analysts LLC increased its stake in Elevance Health by 1.2% during the 4th quarter. Capital Analysts LLC now owns 20,866 shares of the company’s stock valued at $9,839,000 after buying an additional 254 shares during the period. CTC Alternative Strategies Ltd. acquired a new position in Elevance Health during the 4th quarter valued at about $424,000. Keel Point LLC boosted its position in shares of Elevance Health by 3.6% during the 4th quarter. Keel Point LLC now owns 966 shares of the company’s stock valued at $456,000 after purchasing an additional 34 shares in the last quarter. Finally, Aurora Private Wealth Inc. bought a new position in shares of Elevance Health during the 4th quarter valued at about $210,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

Elevance Health stock opened at $507.02 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a market cap of $117.98 billion, a PE ratio of 20.14, a PEG ratio of 1.10 and a beta of 0.78. The company’s 50-day moving average is $507.94 and its two-hundred day moving average is $482.10. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $521.18.

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

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. Elevance Health’s dividend payout ratio is 25.90%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ELV shares. Barclays started coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. Royal Bank of Canada raised their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. 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. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $569.00.

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.