Lowe Brockenbrough & Co. Inc. Sells 2,966 Shares of Elevance Health, Inc. (NYSE:ELV)

Lowe Brockenbrough & Co. Inc. reduced its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,118 shares of the company's stock after selling 2,966 shares during the period. Lowe Brockenbrough & Co. Inc.'s holdings in Elevance Health were worth $9,266,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raelipskie Partnership bought a new position in shares of Elevance Health in the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the 4th quarter valued at $29,000. Crews Bank & Trust bought a new stake in shares of Elevance Health during the 4th quarter worth $34,000. Finally, Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% in the 3rd 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. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Shares of ELV traded down $4.20 during trading hours on Tuesday, reaching $423.03. 1,309,735 shares of the company's stock traded hands, compared to its average volume of 1,319,262. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market cap of $96.18 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The firm's 50 day simple moving average is $401.13 and its 200-day simple moving average is $423.64.

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Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. Elevance Health's dividend payout ratio (DPR) is presently 26.71%.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, 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.

Analyst Ratings Changes

A number of analysts recently issued reports on ELV shares. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Argus upgraded Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective on the stock in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health currently 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.