Valmark Advisers Inc. Has $721,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Valmark Advisers Inc. cut its stake in Elevance Health, Inc. (NYSE:ELV) by 3.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,529 shares of the company’s stock after selling 59 shares during the quarter. Valmark Advisers Inc.’s holdings in Elevance Health were worth $721,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Sanders Capital LLC raised its holdings in shares of 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 in the last quarter. Baillie Gifford & Co. increased its holdings in Elevance Health by 0.9% during the 4th 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 in the last quarter. Morgan Stanley increased its holdings in Elevance Health by 1.7% during the 3rd 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 in the last quarter. Northern Trust Corp increased its holdings in Elevance Health by 2.4% during the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock valued at $1,052,175,000 after purchasing an additional 57,098 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in Elevance Health by 7.2% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock valued at $1,035,884,000 after purchasing an additional 160,524 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.4 %

ELV stock traded down $2.42 during midday trading on Friday, hitting $537.26. 700,726 shares of the company’s stock were exchanged, compared to its average volume of 1,135,198. The stock’s fifty day moving average price is $511.89 and its 200-day moving average price is $486.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $124.87 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the business posted $9.46 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is 24.64%.

Analyst Ratings Changes

A number of research firms recently weighed in on ELV. Truist Financial reaffirmed a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Barclays raised their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Mizuho increased their price objective on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price objective on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health 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 sale, the director now 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The shares were 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 disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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.