First Western Trust Bank Has $444,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

First Western Trust Bank cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,021 shares of the company’s stock after selling 54 shares during the quarter. First Western Trust Bank’s holdings in Elevance Health were worth $444,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Private Wealth Management Group LLC increased its holdings in Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after buying an additional 38 shares during the period. Accredited Wealth Management LLC bought a new stake in Elevance Health in the fourth quarter valued at $25,000. Riverview Trust Co grew its position in Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock valued at $31,000 after acquiring an additional 67 shares during the period. North Capital Inc. bought a new stake in shares of Elevance Health during the first quarter worth $36,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Elevance Health during the first quarter worth $43,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on ELV. Barclays decreased their target price on Elevance Health from $434.00 to $358.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Leerink Partners restated a “market perform” rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Royal Bank Of Canada restated an “outperform” rating and set a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Morgan Stanley decreased their target price on Elevance Health from $428.00 to $316.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Finally, Wells Fargo & Company decreased their target price on Elevance Health from $478.00 to $400.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $418.19.

Elevance Health Trading Up 3.8%

NYSE:ELV opened at $294.33 on Friday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $567.26. The business’s 50-day moving average price is $340.17 and its two-hundred day moving average price is $385.42. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $66.28 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.04 and a beta of 0.58.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. During the same quarter in the prior year, the firm posted $10.12 earnings per share. Elevance Health’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.3%. Elevance Health’s payout ratio is currently 29.11%.

Insider Activity

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

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.