Elevance Health, Inc. (NYSE:ELV) Shares Sold by Bell Investment Advisors Inc

Bell Investment Advisors Inc cut its stake in Elevance Health, Inc. (NYSE:ELV) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 954 shares of the company’s stock after selling 75 shares during the period. Bell Investment Advisors Inc’s holdings in Elevance Health were worth $352,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new stake in Elevance Health in the third quarter worth $26,000. Dunhill Financial LLC grew its stake in shares of Elevance Health by 57.8% in the third 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. OFI Invest Asset Management bought a new position in shares of Elevance Health in the fourth quarter worth $29,000. Peterson Financial Group Inc. bought a new position in shares of Elevance Health in the third quarter worth $44,000. Finally, Crews Bank & Trust bought a new position in shares of Elevance Health in the fourth quarter worth $34,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 1.7 %

Shares of NYSE ELV opened at $409.59 on Monday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a market cap of $93.12 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $390.64 and a 200-day simple moving average of $433.36.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS 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%. Sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. 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 1.67%. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ELV shares. Wells Fargo & Company decreased their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Finally, Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, 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 hyperlink. Company insiders own 0.35% of the company’s stock.

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.