Spinnaker Trust lessened its stake in Elevance Health, Inc. (NYSE:ELV – Free Report) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 490 shares of the company’s stock after selling 90 shares during the quarter. Spinnaker Trust’s holdings in Elevance Health were worth $231,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Elevance Health in the 3rd quarter worth $25,000. Alaska Permanent Fund Corp acquired a new stake in shares of Elevance Health in the 4th quarter worth approximately $31,000. ORG Partners LLC acquired a new stake in Elevance Health during the fourth quarter valued at approximately $40,000. Orion Capital Management LLC acquired a new stake in Elevance Health during the third quarter valued at approximately $46,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Elevance Health during the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 89.24% of the company’s stock.
Elevance Health Trading Down 0.4 %
Shares of ELV stock traded down $2.42 during trading hours on Friday, hitting $537.26. 700,726 shares of the company were exchanged, compared to its average volume of 1,135,198. The firm has a market cap of $124.87 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.19 and a beta of 0.78. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a 50 day simple moving average of $511.89 and a two-hundred day simple moving average of $486.40.
Elevance Health Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.
Insider Transactions at Elevance Health
In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on ELV shares. UBS Group raised their price target on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Mizuho lifted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Barclays lifted their price target on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company boosted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.
Read Our Latest Analysis on ELV
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.
Recommended Stories
- Five stocks we like better than Elevance Health
- 3 Monster Growth Stocks to Buy Now
- MarketBeat Week in Review – 4/22 – 4/26
- Profitably Trade Stocks at 52-Week Highs
- 3 Stocks Leading the U.S. Agriculture Comeback
- About the Markup Calculator
- How to Use Put Debit Spreads to Profit From Falling Stocks
Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV – Free Report).
Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.