First Hawaiian Bank Decreases Holdings in Elevance Health, Inc. (NYSE:ELV)

First Hawaiian Bank lowered its position in Elevance Health, Inc. (NYSE:ELV) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,774 shares of the company’s stock after selling 1,597 shares during the quarter. First Hawaiian Bank’s holdings in Elevance Health were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cypress Wealth Services LLC boosted its stake in shares of Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after purchasing an additional 23 shares in the last quarter. Atomi Financial Group Inc. boosted its position in Elevance Health by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after buying an additional 25 shares during the period. Lifeworks Advisors LLC grew its stake in shares of Elevance Health by 2.5% during the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after buying an additional 25 shares during the last quarter. Bell Investment Advisors Inc increased its holdings in shares of Elevance Health by 2.6% in the second quarter. Bell Investment Advisors Inc now owns 1,029 shares of the company’s stock worth $557,000 after buying an additional 26 shares during the period. Finally, Catalyst Financial Partners LLC boosted its holdings in Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after acquiring an additional 26 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ELV shares. Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Morgan Stanley cut their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Barclays lowered their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Price Performance

Shares of ELV stock opened at $382.71 on Thursday. The business’s fifty day moving average is $392.50 and its 200 day moving average is $473.95. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market cap of $88.76 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.15 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last released its earnings results 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 return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the prior year, the company earned $8.99 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal 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 dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.70%. Elevance Health’s payout ratio is 23.77%.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

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.