Elevance Health, Inc. (NYSE:ELV) Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,765 shares of the company’s stock after selling 6,512 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Elevance Health were worth $20,941,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ELV. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health during the fourth quarter worth about $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the 4th quarter valued at about $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $29,000. Lee Danner & Bass Inc. purchased a new position in Elevance Health during the 4th quarter worth approximately $30,000. Finally, Crews Bank & Trust acquired a new position in Elevance Health during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 2.4 %

NYSE:ELV opened at $424.44 on Friday. The stock has a market capitalization of $96.09 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock has a fifty day moving average price of $416.77 and a two-hundred day moving average price of $411.07. 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 released its quarterly earnings data 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 net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.61%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s payout ratio is presently 26.71%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ELV shares. Truist Financial raised their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Robert W. Baird reissued a “neutral” rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Guggenheim started coverage on Elevance Health in a research note on Wednesday, April 9th. They set a “buy” rating and a $518.00 price objective for the company. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $514.41.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

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.