Elevance Health, Inc. (NYSE:ELV) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Raelipskie Partnership bought a new stake in Elevance Health in the 3rd quarter valued at $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the third quarter worth about $27,000. Eastern Bank purchased a new stake in shares of Elevance Health in the third quarter worth about $31,000. Dunhill Financial LLC grew its holdings in Elevance Health by 57.8% during 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 in the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in Elevance Health in the 3rd quarter worth approximately $44,000. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELV. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company lowered their price target on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Royal Bank of Canada decreased their price objective on Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a research report on Friday, October 18th. Argus downgraded Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, October 18th. Finally, Mizuho dropped their price objective on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $536.53.

Elevance Health Stock Up 0.5 %

Shares of ELV stock traded up $1.96 during mid-day trading on Thursday, hitting $382.71. The stock had a trading volume of 1,517,609 shares, compared to its average volume of 1,417,422. The firm has a market capitalization of $88.76 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm's 50-day moving average is $392.04 and its two-hundred day moving average is $473.32.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly 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). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.99 EPS. On average, analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, December 5th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, December 5th. Elevance Health's payout ratio is currently 23.77%.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company's stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by corporate insiders.

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.