Blair William & Co. IL Has $2.60 Million Position in Elevance Health, Inc. (NYSE:ELV)

Blair William & Co. IL cut its stake in Elevance Health, Inc. (NYSE:ELV) by 54.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,056 shares of the company’s stock after selling 8,580 shares during the quarter. Blair William & Co. IL’s holdings in Elevance Health were worth $2,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dunhill Financial LLC raised its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Tobam raised its position in Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after acquiring an additional 27 shares during the last quarter. Austin Private Wealth LLC grew its position in Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after acquiring an additional 29 shares in the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after purchasing an additional 30 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on 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 transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial decreased 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. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Barclays lifted 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. Finally, Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Monday, March 17th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Elevance Health Price Performance

NYSE:ELV opened at $433.02 on Wednesday. The company has a market capitalization of $98.45 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.18 and a beta of 0.86. The company has a 50-day moving average of $406.34 and a 200-day moving average of $418.81. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

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.