IHT Wealth Management LLC Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

IHT Wealth Management LLC decreased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 49.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 758 shares of the company's stock after selling 748 shares during the quarter. IHT Wealth Management LLC's holdings in Elevance Health were worth $279,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Elevance Health during the 3rd quarter valued at about $2,828,000. Te Ahumairangi Investment Management Ltd increased its stake in Elevance Health by 39.6% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company's stock worth $5,433,000 after buying an additional 2,983 shares during the period. Tudor Financial Inc. acquired a new stake in Elevance Health during the 3rd quarter worth approximately $235,000. Anchor Investment Management LLC boosted its position in Elevance Health by 22.9% in the 3rd quarter. Anchor Investment Management LLC now owns 6,098 shares of the company's stock valued at $3,171,000 after buying an additional 1,135 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in shares of Elevance Health during the third quarter worth $8,855,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated 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 sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. 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 stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares of the company's stock, valued at approximately $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. Insiders sold a total of 8,535 shares of company stock valued at $3,521,612 over the last three months. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective on the stock in a research report on Monday, March 17th. Guggenheim reiterated a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Truist Financial raised their price target on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $509.44.

Elevance Health Stock Down 1.7 %

ELV stock opened at $421.55 on Monday. 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 company has a market cap of $95.43 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a fifty day moving average price of $420.00 and a 200 day moving average price of $407.30.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.

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.

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