Mcdonald Capital Investors Inc. CA Sells 620 Shares of Elevance Health, Inc. (NYSE:ELV)

Mcdonald Capital Investors Inc. CA cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,259 shares of the company’s stock after selling 620 shares during the quarter. Elevance Health accounts for about 2.9% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its 15th largest position. Mcdonald Capital Investors Inc. CA owned about 0.05% of Elevance Health worth $46,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Meriwether Wealth & Planning LLC acquired a new stake in Elevance Health during the 4th quarter worth approximately $592,000. Daiwa Securities Group Inc. boosted its position in Elevance Health by 11.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 32,291 shares of the company’s stock worth $11,913,000 after buying an additional 3,190 shares during the period. Roberts Glore & Co. Inc. IL boosted its position in Elevance Health by 229.2% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 2,212 shares of the company’s stock worth $816,000 after buying an additional 1,540 shares during the period. OFI Invest Asset Management acquired a new stake in Elevance Health during the 4th quarter worth approximately $29,000. Finally, United Community Bank boosted its position in Elevance Health by 9.6% during the 4th quarter. United Community Bank now owns 1,760 shares of the company’s stock worth $649,000 after buying an additional 154 shares during the period. 89.24% of the stock is owned by institutional investors.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $409.59 on Monday. The firm has a market capitalization of $93.12 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a fifty day moving average of $390.64 and a 200-day moving average of $433.36. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 26.71%.

Analysts Set New Price Targets

Several research firms recently commented on ELV. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Argus restated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

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.