Versant Capital Management Inc Has $26,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Versant Capital Management Inc trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 61.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 71 shares of the company’s stock after selling 113 shares during the period. Versant Capital Management Inc’s holdings in Elevance Health were worth $26,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Raelipskie Partnership acquired a new stake in Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health in the 3rd quarter valued at $27,000. Strategic Financial Concepts LLC bought a new stake in Elevance Health in the second quarter worth $30,000. Eastern Bank acquired a new position in Elevance Health during the third quarter worth $31,000. Finally, Dunhill Financial LLC raised its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $380.47 on Wednesday. The company has a market capitalization of $88.24 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.15 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a 50 day moving average of $393.06 and a two-hundred day moving average of $474.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the firm posted $8.99 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, December 5th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, December 5th. Elevance Health’s payout ratio is currently 23.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

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.