Community Bank N.A. Has $2.22 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Community Bank N.A. boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,025 shares of the company's stock after purchasing an additional 990 shares during the period. Community Bank N.A.'s holdings in Elevance Health were worth $2,222,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after buying an additional 26 shares during the last quarter. Tobam lifted its stake in Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after acquiring an additional 27 shares during the last quarter. Jacobi Capital Management LLC grew its position in shares of Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock valued at $325,000 after acquiring an additional 27 shares during the period. Austin Private Wealth LLC increased its stake in shares of Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock worth $736,000 after purchasing an additional 29 shares during the last quarter. Finally, Quent Capital LLC increased its stake in shares of Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after purchasing an additional 30 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

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Insider Transactions at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Elevance Health Price Performance

NYSE:ELV traded up $1.28 during trading hours on Thursday, reaching $431.81. 1,075,229 shares of the company were exchanged, compared to its average volume of 1,324,311. The company has a market capitalization of $98.17 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a 50 day moving average of $403.50 and a 200 day moving average of $422.91. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a $1.71 dividend. The ex-dividend date was Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. Elevance Health's payout ratio is presently 26.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ELV shares. Argus upgraded Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a report on Monday, March 17th. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $519.81.

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.