EverSource Wealth Advisors LLC Sells 308 Shares of Elevance Health, Inc. (NYSE:ELV)

EverSource Wealth Advisors LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,453 shares of the company’s stock after selling 308 shares during the period. EverSource Wealth Advisors LLC’s holdings in Elevance Health were worth $536,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mutual Advisors LLC raised its holdings in shares of Elevance Health by 2.5% in the 4th 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 position in Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after acquiring an additional 3,049 shares during the period. Benjamin Edwards Inc. raised its stake in Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after acquiring an additional 50,603 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Elevance Health by 13.7% during the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after acquiring an additional 2,725 shares during the period. Finally, JB Capital LLC boosted its stake in shares of Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock valued at $3,462,000 after purchasing an additional 8,038 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ELV shares. Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial decreased 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Trading Up 1.1 %

Shares of ELV opened at $421.72 on Friday. The stock’s fifty day simple moving average is $395.45 and its 200-day simple moving average is $430.47. The firm has a market capitalization of $95.88 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. 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 (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (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, research analysts predict that Elevance Health, Inc. will post 33.96 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. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend 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 currently 26.71%.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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.