UMB Bank n.a. Has $1.62 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

UMB Bank n.a. reduced its position in Elevance Health, Inc. (NYSE:ELVFree Report) by 15.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,436 shares of the company’s stock after selling 621 shares during the period. UMB Bank n.a.’s holdings in Elevance Health were worth $1,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Alliance Wealth Advisors LLC increased its position in shares of Elevance Health by 2.9% in the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after acquiring an additional 21 shares during the last quarter. ProVise Management Group LLC increased its position in Elevance Health by 0.6% during the second quarter. ProVise Management Group LLC now owns 3,856 shares of the company’s stock worth $1,713,000 after buying an additional 22 shares during the last quarter. Clearstead Advisors LLC increased its position in Elevance Health by 0.9% during the third quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after buying an additional 22 shares during the last quarter. Financial Counselors Inc. increased its position in Elevance Health by 1.0% during the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock worth $994,000 after buying an additional 22 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its position in Elevance Health by 2.5% during the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock worth $418,000 after buying an additional 22 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research analyst reports. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Cantor Fitzgerald boosted their price objective on Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Barclays initiated coverage on Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective for the company. Finally, 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 report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average price target of $569.36.

View Our Latest Report on Elevance Health

Elevance Health Stock Up 1.4 %

NYSE ELV opened at $506.24 on Thursday. The business has a fifty day moving average price of $505.28 and a two-hundred day moving average price of $478.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $521.18. The stock has a market capitalization of $117.80 billion, a PE ratio of 20.11, a PEG ratio of 1.13 and a beta of 0.78.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.23 earnings per share. Equities analysts expect that Elevance Health, Inc. will post 37.16 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

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

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 shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

About Elevance Health

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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