Intrust Bank NA Trims Stock Position in Elevance Health, Inc. (NYSE:ELV)

Intrust Bank NA trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 24.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,655 shares of the company's stock after selling 1,183 shares during the quarter. Intrust Bank NA's holdings in Elevance Health were worth $1,348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC increased its stake in shares of Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after buying an additional 52 shares during the period. Czech National Bank increased its position in shares of Elevance Health by 6.5% during the fourth quarter. Czech National Bank now owns 50,286 shares of the company's stock worth $18,551,000 after buying an additional 3,049 shares during the period. Benjamin Edwards Inc. raised its stake in Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock worth $27,858,000 after buying an additional 50,603 shares during the last quarter. Diversified Trust Co lifted its holdings in Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company's stock valued at $8,328,000 after buying an additional 2,725 shares during the period. Finally, JB Capital LLC boosted its position in Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after acquiring an additional 8,038 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

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Elevance Health Stock Performance

Shares of NYSE ELV traded up $12.07 during trading on Thursday, reaching $441.40. 1,064,202 shares of the company traded hands, compared to its average volume of 1,393,347. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a 50 day simple moving average of $407.13 and a 200-day simple moving average of $418.89. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market capitalization of $99.93 billion, a PE ratio of 17.24, a P/E/G ratio of 1.18 and a beta of 0.77.

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

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a $1.71 dividend. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.55%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is currently 26.71%.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction on Monday, March 10th. The stock was 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 directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ELV has been the topic of several research analyst reports. Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Truist Financial cut their price objective on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average price target of $519.81.

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.