Elevance Health, Inc. (NYSE:ELV) Holdings Trimmed by RWA Wealth Partners LLC

RWA Wealth Partners LLC lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 37.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 41,633 shares of the company’s stock after selling 25,198 shares during the period. RWA Wealth Partners LLC’s holdings in Elevance Health were worth $15,359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ELV. Norges Bank purchased a new stake in Elevance Health in the 4th quarter worth about $1,135,014,000. First Eagle Investment Management LLC lifted its position in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Elevance Health by 6,817.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after purchasing an additional 895,658 shares during the period. Stifel Financial Corp grew its position in Elevance Health by 309.7% during the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after purchasing an additional 538,978 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Elevance Health by 17.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company’s stock valued at $1,060,901,000 after buying an additional 437,103 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ELV. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Monday, March 17th. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Truist Financial lowered their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Price Performance

NYSE ELV opened at $431.84 on Friday. The stock has a 50-day simple moving average of $404.45 and a 200 day simple moving average of $421.28. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market capitalization of $98.18 billion, a PE ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.58%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Transactions at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.