RWA Wealth Partners LLC Has $15.36 Million Position in Elevance Health, Inc. (NYSE:ELV)

RWA Wealth Partners LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 37.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,633 shares of the company's stock after selling 25,198 shares during the period. RWA Wealth Partners LLC's holdings in Elevance Health were worth $15,359,000 as of its most recent SEC filing.

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

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Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a research report on Monday, March 17th. Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Finally, Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $519.81.

Elevance Health Stock Up 4.1 %

ELV traded up $17.79 during trading on Thursday, reaching $447.12. The company had a trading volume of 1,427,738 shares, compared to its average volume of 1,394,522. The company has a market cap of $101.22 billion, a P/E ratio of 17.46, a PEG ratio of 1.18 and a beta of 0.77. 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 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business's fifty day moving average price is $407.13 and its 200 day moving average price is $418.89.

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 analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is 26.71%.

Elevance Health Company 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.