Elevance Health, Inc. (NYSE:ELV) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,439 shares of the company’s stock after selling 824 shares during the quarter. Ritholtz Wealth Management’s holdings in Elevance Health were worth $2,093,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ELV. Norges Bank bought a new stake in Elevance Health in the fourth quarter valued at about $1,253,211,000. Legal & General Group Plc bought a new stake in Elevance Health in the fourth quarter valued at about $944,528,000. Moneta Group Investment Advisors LLC bought a new stake in Elevance Health in the fourth quarter valued at about $664,077,000. Veritas Asset Management LLP bought a new stake in Elevance Health in the second quarter valued at about $503,385,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Elevance Health by 825.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock valued at $372,715,000 after buying an additional 676,769 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $1.44 during midday trading on Thursday, reaching $518.52. The company’s stock had a trading volume of 875,607 shares, compared to its average volume of 1,023,754. The business’s fifty day simple moving average is $501.14 and its 200-day simple moving average is $475.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $120.66 billion, a P/E ratio of 20.65, a P/E/G ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $521.18.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $5.23 earnings per share. As a group, equities research analysts expect that Elevance Health, Inc. will post 37.15 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $1.63 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Thursday, March 7th. Elevance Health’s payout ratio is presently 25.90%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ELV. Barclays started coverage on Elevance Health in a report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price objective for the company. Royal Bank of Canada raised their price objective on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Cantor Fitzgerald increased their target price on Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Finally, StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $569.36.

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.