Sage Mountain Advisors LLC Sells 333 Shares of Elevance Health, Inc. (NYSE:ELV)

Sage Mountain Advisors LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,249 shares of the company’s stock after selling 333 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Elevance Health were worth $461,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Lifeworks Advisors LLC boosted its stake in Elevance Health by 2.5% during the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after buying an additional 25 shares during the last quarter. Dunhill Financial LLC raised its holdings 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 acquiring an additional 26 shares in the last quarter. Tobam boosted its position in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after acquiring an additional 27 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in shares of 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 purchasing an additional 27 shares in the last quarter. Finally, Austin Private Wealth LLC increased 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 purchasing an additional 29 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Up 3.4 %

ELV opened at $423.44 on Wednesday. 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 stock’s fifty day moving average is $392.54 and its two-hundred day moving average is $431.56. The company has a market capitalization of $96.27 billion, a P/E ratio of 16.53, a PEG 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.

Elevance Health (NYSE:ELV) last announced its quarterly 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%. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is currently 26.71%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial dropped their price objective 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. Wells Fargo & Company dropped 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, 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. Corporate 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.