Zions Bancorporation N.A. Sells 63 Shares of Elevance Health, Inc. (NYSE:ELV)

Zions Bancorporation N.A. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 39.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96 shares of the company’s stock after selling 63 shares during the quarter. Zions Bancorporation N.A.’s holdings in Elevance Health were worth $35,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Raelipskie Partnership purchased a new position in Elevance Health during the 3rd quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the fourth quarter valued at $29,000. Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $30,000. Finally, Crews Bank & Trust purchased a new stake in Elevance Health in the fourth quarter worth approximately $34,000. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

ELV has been the subject of a number of recent research reports. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Truist Financial cut their price target on 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 reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $431.81 on Friday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a market cap of $98.17 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The firm’s 50 day simple moving average is $403.50 and its 200-day simple moving average is $422.91. 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 issued its 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%. As a group, equities analysts predict 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 was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is 26.71%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business’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 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. 0.35% of the stock is currently 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.