Elevance Health, Inc. (NYSE:ELV) Shares Sold by Graypoint LLC

Graypoint LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 42.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,570 shares of the company’s stock after selling 1,161 shares during the quarter. Graypoint LLC’s holdings in Elevance Health were worth $579,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Cypress Wealth Services LLC increased its position 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 during the last quarter. Atomi Financial Group Inc. increased its holdings in Elevance Health by 4.2% in 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 last quarter. Lifeworks Advisors LLC increased its holdings in Elevance Health by 2.5% in 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. Catalyst Financial Partners LLC lifted 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 worth $477,000 after buying an additional 26 shares during the last quarter. Finally, Fullcircle Wealth LLC boosted its position in shares of Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after acquiring an additional 26 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. 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 report on Monday, January 6th. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays reduced their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $536.53.

Elevance Health Price Performance

Elevance Health stock opened at $381.41 on Friday. The business has a 50 day simple moving average of $391.39 and a 200-day simple moving average of $471.76. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $88.46 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the business posted $8.99 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Elevance Health, Inc. will post 32.96 earnings per share 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 paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

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.