Elevance Health, Inc. $ELV Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 17.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,936 shares of the company’s stock after selling 814 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Elevance Health were worth $1,531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC increased its stake in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after acquiring an additional 38 shares during the period. WPG Advisers LLC purchased a new position in Elevance Health during the first quarter valued at $29,000. North Capital Inc. purchased a new position in Elevance Health during the first quarter valued at $36,000. Saudi Central Bank purchased a new position in Elevance Health during the first quarter valued at $40,000. Finally, Berbice Capital Management LLC purchased a new position in shares of Elevance Health in the first quarter worth about $43,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of several research reports. Argus reissued a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Elevance Health in a research report on Saturday, September 27th. Leerink Partners restated a “market perform” rating and set a $310.00 price objective (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. UBS Group cut their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Finally, Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $411.06.

Elevance Health Price Performance

Shares of ELV opened at $351.11 on Friday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $510.24. The firm has a 50-day simple moving average of $307.98 and a two-hundred day simple moving average of $361.19. The stock has a market cap of $79.06 billion, a PE ratio of 14.94, a P/E/G ratio of 1.28 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.Elevance Health’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $10.12 earnings per share. As a group, analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.9%. Elevance Health’s dividend payout ratio is currently 29.11%.

Insiders Place Their Bets

In other news, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gail Boudreaux purchased 8,500 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the purchase, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.