Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 43 Shares of Elevance Health, Inc. (NYSE:ELV)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in Elevance Health, Inc. (NYSE:ELV) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522 shares of the company’s stock after selling 43 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Elevance Health were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ELV. International Assets Investment Management LLC lifted its position in Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after purchasing an additional 255,138 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Elevance Health by 212.7% in the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock valued at $159,726,000 after purchasing an additional 249,533 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Elevance Health by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock valued at $279,063,000 after purchasing an additional 234,439 shares during the last quarter. Schroder Investment Management Group lifted its position in Elevance Health by 18.2% in the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock valued at $579,493,000 after purchasing an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Elevance Health by 59.3% in the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock valued at $214,011,000 after purchasing an additional 182,889 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ELV. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. UBS Group boosted their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday. Barclays boosted their target price on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Royal Bank of Canada boosted their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $587.64.

Elevance Health Stock Up 0.8 %

ELV stock traded up $4.42 during midday trading on Tuesday, hitting $536.64. The stock had a trading volume of 325,722 shares, compared to its average volume of 1,059,806. The firm has a market cap of $124.73 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The business has a 50-day moving average of $509.68 and a two-hundred day moving average of $484.51. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $539.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the prior year, the firm posted $9.46 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

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.