Whittier Trust Co. Sells 3,082 Shares of Elevance Health, Inc. (NYSE:ELV)

Whittier Trust Co. trimmed its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 84,925 shares of the company's stock after selling 3,082 shares during the quarter. Whittier Trust Co.'s holdings in Elevance Health were worth $31,327,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in Elevance Health in the 3rd quarter worth approximately $518,000. Quest Partners LLC increased its holdings in shares of Elevance Health by 201.6% during the third quarter. Quest Partners LLC now owns 2,319 shares of the company's stock valued at $1,206,000 after purchasing an additional 1,550 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of Elevance Health by 1.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,206 shares of the company's stock valued at $1,147,000 after purchasing an additional 39 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Elevance Health by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 83,994 shares of the company's stock worth $43,677,000 after purchasing an additional 832 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in Elevance Health in the 3rd quarter valued at about $52,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 0.1 %

Shares of ELV stock traded up $0.43 during trading hours on Monday, reaching $427.62. 972,096 shares of the stock traded hands, compared to its average volume of 1,319,389. 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 market capitalization of $97.22 billion, a PE ratio of 16.70, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The business has a fifty day moving average price of $401.13 and a 200 day moving average price of $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%. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is 26.71%.

Wall Street Analyst Weigh In

A number of research firms have commented on ELV. Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday. Barclays increased their price target on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Finally, Truist Financial cut their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Two 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $519.81.

Insider Activity

In other news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now directly 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 position. The disclosure for this sale can be found here. 0.35% of the stock is 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.