Sugarloaf Wealth Management LLC Sells 102 Shares of Elevance Health, Inc. (NYSE:ELV)

Sugarloaf Wealth Management LLC reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 27.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 272 shares of the company’s stock after selling 102 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Elevance Health were worth $100,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Pathway Financial Advisers LLC raised its position in shares of Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after purchasing an additional 656,344 shares during the period. Stifel Financial Corp lifted its position in Elevance Health by 309.7% during the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after acquiring an additional 538,978 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 0.5 %

Shares of NYSE ELV opened at $381.41 on Friday. The stock has a 50-day moving average price of $391.39 and a two-hundred day moving average price of $472.20. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $88.46 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last issued 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). The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $8.99 EPS. As a group, analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley lowered their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Truist Financial cut their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, TD Cowen cut their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $536.53.

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.