Donaldson Capital Management LLC Sells 421 Shares of Elevance Health, Inc. (NYSE:ELV)

Donaldson Capital Management LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 17.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,024 shares of the company’s stock after selling 421 shares during the period. Donaldson Capital Management LLC’s holdings in Elevance Health were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. OFI Invest Asset Management bought a new position in Elevance Health during the third quarter valued at $25,000. Fortis Capital Advisors LLC bought a new position in Elevance Health during the fourth quarter valued at $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Elevance Health during the third quarter valued at $30,000. TD Capital Management LLC bought a new position in Elevance Health during the fourth quarter valued at $30,000. Finally, Tyler Stone Wealth Management bought a new position in Elevance Health during the second quarter valued at $39,000. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was 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 in the company, valued at $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ELV shares. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Wells Fargo & Company dropped their target price on Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. Barclays started coverage on Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada increased their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $569.00.

Elevance Health Price Performance

Shares of ELV stock traded up $7.95 on Tuesday, reaching $508.04. The company’s stock had a trading volume of 216,420 shares, compared to its average volume of 1,014,821. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $521.18. The company has a market capitalization of $118.22 billion, a P/E ratio of 19.88, a PEG ratio of 1.09 and a beta of 0.78. The stock’s 50 day simple moving average is $507.68 and its 200-day simple moving average is $481.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. During the same quarter last year, the business posted $5.23 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts predict that Elevance Health, Inc. will post 37.03 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. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.28%. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

About Elevance Health

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.