First National Trust Co Has $435,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

First National Trust Co increased its position in Elevance Health, Inc. (NYSE:ELV) by 13.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 837 shares of the company’s stock after purchasing an additional 100 shares during the quarter. First National Trust Co’s holdings in Elevance Health were worth $435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new position in shares of Elevance Health in the 2nd quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new position in Elevance Health in the second quarter valued at approximately $28,000. PSI Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth $27,000. Eastern Bank bought a new stake in shares of Elevance Health during the 3rd quarter valued at $31,000. Finally, Crewe Advisors LLC acquired a new position in shares of Elevance Health in the 1st quarter valued at $40,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of recent analyst reports. Bank of America reiterated a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. UBS Group cut their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Morgan Stanley decreased their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $539.20.

Elevance Health Trading Down 0.5 %

NYSE ELV opened at $410.89 on Thursday. The stock has a market capitalization of $95.29 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The stock’s 50 day moving average price is $483.60 and its two-hundred day moving average price is $516.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the previous year, the company posted $8.99 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by company insiders.

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.