Regent Peak Wealth Advisors LLC Sells 75 Shares of Elevance Health, Inc. (NYSE:ELV)

Regent Peak Wealth Advisors LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 789 shares of the company’s stock after selling 75 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Elevance Health were worth $291,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT grew its stake in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after purchasing an additional 3,786 shares during the last quarter. International Assets Investment Management LLC boosted its position in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after buying an additional 50,603 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Elevance Health by 5.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock valued at $109,127,000 after buying an additional 9,916 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Elevance Health by 60.6% during the third quarter. Tidal Investments LLC now owns 10,485 shares of the company’s stock worth $5,452,000 after acquiring an additional 3,956 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ELV. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Mizuho reduced their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Stock Up 0.6 %

ELV stock traded up $2.39 during midday trading on Tuesday, hitting $382.04. The company’s stock had a trading volume of 453,950 shares, compared to its average volume of 1,197,846. The company’s fifty day moving average price is $393.67 and its 200 day moving average price is $475.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market capitalization of $88.60 billion, a P/E ratio of 13.93, a PEG ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the company posted $8.99 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, December 5th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

Elevance Health Company 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.