Elevance Health, Inc. (NYSE:ELV) Shares Sold by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,029 shares of the company’s stock after selling 133 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Elevance Health were worth $2,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ELV. Principal Financial Group Inc. grew its stake in shares of Elevance Health by 4.5% during the third quarter. Principal Financial Group Inc. now owns 272,649 shares of the company’s stock worth $141,777,000 after purchasing an additional 11,646 shares in the last quarter. Consolidated Planning Corp acquired a new position in shares of Elevance Health during the third quarter worth $444,000. TFB Advisors LLC grew its stake in shares of Elevance Health by 23.6% during the third quarter. TFB Advisors LLC now owns 540 shares of the company’s stock worth $281,000 after purchasing an additional 103 shares in the last quarter. Leavell Investment Management Inc. grew its stake in shares of Elevance Health by 3.4% during the third quarter. Leavell Investment Management Inc. now owns 6,165 shares of the company’s stock worth $3,206,000 after purchasing an additional 200 shares in the last quarter. Finally, Equitable Trust Co. grew its stake in shares of Elevance Health by 159.6% during the third quarter. Equitable Trust Co. now owns 1,760 shares of the company’s stock worth $915,000 after purchasing an additional 1,082 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 1.7 %

NYSE ELV opened at $409.59 on Friday. The stock 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. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a 50-day moving average price of $390.64 and a 200 day moving average price of $434.13. 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 posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

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

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ELV. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Three equities 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.