Greenleaf Trust Has $3.28 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Greenleaf Trust lowered its position in Elevance Health, Inc. (NYSE:ELV) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,960 shares of the company’s stock after selling 343 shares during the period. Greenleaf Trust’s holdings in Elevance Health were worth $3,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Norges Bank purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $1,253,211,000. Legal & General Group Plc bought a new position in Elevance Health during the fourth quarter valued at about $944,528,000. Moneta Group Investment Advisors LLC bought a new position in Elevance Health during the fourth quarter valued at about $664,077,000. Arrowstreet Capital Limited Partnership grew its position in Elevance Health by 825.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock valued at $372,715,000 after buying an additional 676,769 shares during the period. Finally, Barclays PLC grew its position in Elevance Health by 52.9% during the second quarter. Barclays PLC now owns 1,263,401 shares of the company’s stock valued at $561,318,000 after buying an additional 437,225 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group increased their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Truist Financial reiterated a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research report on Friday. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, UBS Group increased their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $583.77.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

Elevance Health Trading Up 1.2 %

ELV stock opened at $531.42 on Friday. The company has a market capitalization of $123.66 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.15 and a beta of 0.78. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $539.11. The company’s 50 day moving average price is $509.14 and its two-hundred day moving average price is $483.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.44 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $9.46 earnings per share. As a group, analysts predict that Elevance Health, Inc. will post 37.2 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is 24.64%.

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.