Diversified Trust Co Increases Position in Elevance Health, Inc. (NYSE:ELV)

Diversified Trust Co lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,576 shares of the company's stock after acquiring an additional 2,725 shares during the quarter. Diversified Trust Co's holdings in Elevance Health were worth $8,328,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Raelipskie Partnership acquired a new stake in Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the third quarter worth $27,000. Strategic Financial Concepts LLC acquired a new stake in shares of Elevance Health in the second quarter valued at $30,000. Eastern Bank purchased a new position in Elevance Health in the third quarter valued at $31,000. Finally, Dunhill Financial LLC grew its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ELV shares. Wells Fargo & Company reduced their price target on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Cantor Fitzgerald decreased their price target on shares of Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a research note 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. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday. Finally, Barclays lowered their target price 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $536.53.

Insider Buying and Selling

In related 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 completion of the transaction, the executive vice president now directly owns 8,423 shares of the company's stock, valued at $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 SEC, which is available at this link. Corporate insiders own 0.35% of the company's stock.

Elevance Health Stock Performance

ELV stock traded up $0.82 on Tuesday, hitting $380.47. The company's stock had a trading volume of 1,190,494 shares, compared to its average volume of 1,392,374. The stock has a market cap of $88.24 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84. The firm has a 50 day moving average of $393.67 and a two-hundred day moving average of $475.68. 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 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Elevance Health's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $8.99 EPS. Equities analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Thursday, December 5th. Elevance Health's dividend payout ratio (DPR) is presently 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.