New York Life Investment Management LLC Sells 4,999 Shares of Elevance Health, Inc. (NYSE:ELV)

New York Life Investment Management LLC reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 11.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,268 shares of the company’s stock after selling 4,999 shares during the period. New York Life Investment Management LLC’s holdings in Elevance Health were worth $17,574,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of Elevance Health by 10.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,428 shares of the company’s stock worth $10,637,000 after acquiring an additional 2,270 shares in the last quarter. Raymond James & Associates raised its position in shares of Elevance Health by 37.0% in the 3rd quarter. Raymond James & Associates now owns 243,563 shares of the company’s stock worth $106,052,000 after acquiring an additional 65,719 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Elevance Health by 22.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 69,871 shares of the company’s stock worth $30,423,000 after acquiring an additional 12,967 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Elevance Health by 141.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 10,897 shares of the company’s stock worth $4,745,000 after acquiring an additional 6,378 shares in the last quarter. Finally, NorthRock Partners LLC grew its stake in shares of Elevance Health by 24.2% in the 3rd quarter. NorthRock Partners LLC now owns 1,006 shares of the company’s stock valued at $438,000 after buying an additional 196 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Shares of NYSE ELV opened at $524.84 on Thursday. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The stock’s 50 day moving average price is $513.01 and its 200-day moving average price is $488.20. The company has a market capitalization of $121.98 billion, a PE ratio of 19.84, a PEG ratio of 1.17 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the previous year, the business earned $9.46 EPS. The company’s revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ELV. Royal Bank of Canada raised their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Jefferies Financial Group raised their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, UBS Group raised their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $587.42.

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.