Waldron Private Wealth LLC Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Waldron Private Wealth LLC reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,040 shares of the company’s stock after selling 60 shares during the quarter. Waldron Private Wealth LLC’s holdings in Elevance Health were worth $490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the 3rd quarter worth about $25,000. Fortis Capital Advisors LLC purchased a new stake in Elevance Health in the 4th quarter worth approximately $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Elevance Health in the 3rd quarter valued at $30,000. TD Capital Management LLC purchased a new position in shares of Elevance Health during the 4th quarter worth $30,000. Finally, Tyler Stone Wealth Management acquired a new stake in shares of Elevance Health during the second quarter worth $39,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Elevance Health Stock Up 0.6 %

Shares of NYSE ELV opened at $500.27 on Tuesday. The stock has a fifty day moving average price of $507.68 and a 200 day moving average price of $481.59. The company has a market cap of $116.41 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.09 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $521.18. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating the consensus estimate of $5.60 by $0.02. The business had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $5.23 EPS. Research analysts anticipate that Elevance Health, Inc. will post 37.03 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid 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 annualized dividend and a yield of 1.30%. Elevance Health’s payout ratio is 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.