HBK Sorce Advisory LLC Sells 57 Shares of Elevance Health, Inc. (NYSE:ELV)

HBK Sorce Advisory LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 698 shares of the company’s stock after selling 57 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Elevance Health were worth $257,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Mutual Advisors LLC raised its position in 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 during the last quarter. Czech National Bank raised its position in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after buying an additional 3,049 shares during the last quarter. Benjamin Edwards Inc. raised 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 worth $27,858,000 after buying an additional 50,603 shares during the last quarter. Diversified Trust Co raised its position in Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after buying an additional 2,725 shares during the last quarter. Finally, JB Capital LLC raised its position in Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after buying an additional 8,038 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ELV shares. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus reaffirmed a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Up 1.1 %

ELV stock opened at $421.72 on Friday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a market capitalization of $95.88 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.18 and a beta of 0.86. The business has a 50 day simple moving average of $395.45 and a two-hundred day simple moving average of $429.65.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

About Elevance Health

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.