First National Bank of Hutchinson Sells 597 Shares of Elevance Health, Inc. (NYSE:ELV)

First National Bank of Hutchinson cut its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 24.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,819 shares of the company's stock after selling 597 shares during the quarter. First National Bank of Hutchinson's holdings in Elevance Health were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Raelipskie Partnership bought a new stake in Elevance Health in the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 4th quarter valued at $29,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health during the fourth quarter worth $34,000. Finally, Dunhill Financial LLC raised its stake in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction 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 sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

Remove Ads

Elevance Health Stock Up 0.1 %

Shares of ELV stock traded up $0.43 during trading hours on Monday, reaching $427.62. The company had a trading volume of 972,096 shares, compared to its average volume of 1,319,389. The company has a market cap of $97.22 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth 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. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The business has a fifty day simple moving average of $400.52 and a 200-day simple moving average of $424.46.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating 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%. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio is presently 26.71%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Argus raised 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. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Barclays raised their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Truist Financial decreased their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Two equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $519.81.

Elevance Health 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.