Indiana Trust & Investment Management Co Has $228,000 Position in Elevance Health, Inc. (NYSE:ELV)

Indiana Trust & Investment Management Co trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619 shares of the company’s stock after selling 34 shares during the period. Indiana Trust & Investment Management Co’s holdings in Elevance Health were worth $228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pathway Financial Advisers LLC raised its position in shares of Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after purchasing an additional 656,344 shares during the period. Stifel Financial Corp increased its stake in Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after purchasing an additional 538,978 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after buying an additional 532,016 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after buying an additional 334,552 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after buying an additional 286,905 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.3 %

ELV stock opened at $391.04 on Wednesday. The company has a market cap of $90.69 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The business has a 50-day simple moving average of $385.59 and a 200 day simple moving average of $452.12.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Sell-side analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 25.46%.

Analyst Ratings Changes

A number of equities research analysts recently commented on ELV shares. Morgan Stanley dropped their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Mizuho reduced their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. TD Cowen reduced their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Argus reiterated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $517.03.

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.