Greenleaf Trust Cuts Stock Position in Elevance Health, Inc. (NYSE:ELV)

Greenleaf Trust lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 4.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,960 shares of the company’s stock after selling 343 shares during the quarter. Greenleaf Trust’s holdings in Elevance Health were worth $3,282,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bigelow Investment Advisors LLC purchased a new position in Elevance Health in the fourth quarter valued at about $203,000. Institute for Wealth Management LLC. grew its stake in Elevance Health by 1.8% in the fourth quarter. Institute for Wealth Management LLC. now owns 3,032 shares of the company’s stock valued at $1,430,000 after purchasing an additional 53 shares during the last quarter. Cornerstone Investment Partners LLC grew its stake in shares of Elevance Health by 7.5% during the fourth quarter. Cornerstone Investment Partners LLC now owns 153,178 shares of the company’s stock worth $72,233,000 after acquiring an additional 10,654 shares during the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Elevance Health by 17.7% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,544 shares of the company’s stock worth $728,000 after acquiring an additional 232 shares during the last quarter. Finally, Trust Investment Advisors purchased a new stake in shares of Elevance Health during the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on 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 directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.35% of the stock is owned by company insiders.

Elevance Health Stock Up 1.2 %

Shares of ELV opened at $531.42 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.44 and a current ratio of 1.37. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $539.11. The stock has a market capitalization of $123.66 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.15 and a beta of 0.78. The stock has a 50 day moving average price of $509.14 and a 200 day moving average price of $483.22.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $9.46 earnings per share. Equities research analysts forecast that Elevance Health, Inc. will post 37.2 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research analyst reports. UBS Group boosted their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Royal Bank of Canada boosted their price target on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday. Jefferies Financial Group boosted their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Truist Financial reaffirmed a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $583.77.

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.