Uncommon Cents Investing LLC Sells 60 Shares of Elevance Health, Inc. (NYSE:ELV)

Uncommon Cents Investing LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 3,550 shares of the company’s stock after selling 60 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Elevance Health were worth $1,674,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Sanders Capital LLC boosted its holdings in shares of Elevance Health by 1.4% in the 3rd quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock worth $1,855,750,000 after purchasing an additional 58,013 shares during the period. Alliancebernstein L.P. boosted its stake in Elevance Health by 13.1% during the second quarter. Alliancebernstein L.P. now owns 3,214,663 shares of the company’s stock worth $1,428,243,000 after buying an additional 372,937 shares during the period. Nuveen Asset Management LLC increased its position in Elevance Health by 1.8% during the second quarter. Nuveen Asset Management LLC now owns 3,143,404 shares of the company’s stock valued at $1,396,583,000 after acquiring an additional 56,204 shares during the last quarter. Morgan Stanley raised its stake in shares of Elevance Health by 1.7% in the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after acquiring an additional 46,322 shares during the period. Finally, Norges Bank bought a new stake in shares of Elevance Health in the 4th quarter worth about $1,253,211,000. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ELV shares. Barclays assumed coverage on Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price for the company. Royal Bank of Canada boosted their price objective on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Cantor Fitzgerald boosted their target price on shares of Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $569.36.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 0.3 %

ELV opened at $518.52 on Friday. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $521.18. The stock has a fifty day moving average price of $501.14 and a 200-day moving average price of $475.76. The firm has a market cap of $120.66 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.16 and a beta of 0.78. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating the consensus estimate of $5.60 by $0.02. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. During the same period in the prior year, the firm posted $5.23 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 37.15 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $1.63 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.26%. The ex-dividend date was Thursday, March 7th. Elevance Health’s payout ratio is currently 25.90%.

About Elevance Health

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.