Legacy Trust Sells 49 Shares of Elevance Health, Inc. (NYSE:ELV)

Legacy Trust reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,182 shares of the company’s stock after selling 49 shares during the quarter. Legacy Trust’s holdings in Elevance Health were worth $1,912,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mutual Advisors LLC raised its stake in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after buying an additional 52 shares in the last quarter. Czech National Bank grew its holdings in shares of Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after acquiring an additional 3,049 shares during the period. Iridian Asset Management LLC CT raised its position in shares of Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after acquiring an additional 3,786 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of 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 purchasing an additional 532,016 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in shares of Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after purchasing an additional 50,603 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on ELV shares. Argus reissued a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research note on Wednesday. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Monday. Finally, Royal Bank of Canada lowered their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Trading Down 1.2 %

NYSE:ELV opened at $400.62 on Thursday. The company has a market cap of $92.91 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. 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 50 day simple moving average of $386.65 and a two-hundred day simple moving average of $459.57. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Research analysts forecast that Elevance Health, Inc. will post 32.95 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.71%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

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.