Elevance Health, Inc. (NYSE:ELV) Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 33.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,864 shares of the company’s stock after selling 926 shares during the quarter. Merit Financial Group LLC’s holdings in Elevance Health were worth $879,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. Benjamin F. Edwards & Company Inc. raised its stake in Elevance Health by 4,257.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 47,714 shares of the company’s stock worth $22,500,000 after purchasing an additional 46,619 shares during the period. Accretive Wealth Partners LLC acquired a new position in Elevance Health during the 4th quarter worth $209,000. SRS Capital Advisors Inc. grew its holdings in Elevance Health by 42.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the company’s stock worth $509,000 after acquiring an additional 322 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in Elevance Health by 105.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 172,810 shares of the company’s stock worth $81,490,000 after acquiring an additional 88,546 shares in the last quarter. Finally, Natixis Advisors L.P. grew its holdings in Elevance Health by 12.5% during the 4th quarter. Natixis Advisors L.P. now owns 160,723 shares of the company’s stock worth $75,790,000 after acquiring an additional 17,799 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.3 %

ELV opened at $526.96 on Monday. The firm’s 50-day simple moving average is $513.54 and its 200-day simple moving average is $489.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The firm has a market cap of $122.48 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.16 and a beta of 0.79.

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

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.24%. Elevance Health’s dividend payout ratio is presently 24.64%.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 in the company, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the business’s 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 completion of the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Truist Financial restated a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Mizuho lifted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $587.42.

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.