Stanley Laman Group Ltd. Sells 107 Shares of Elevance Health, Inc. (NYSE:ELV)

Stanley Laman Group Ltd. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,508 shares of the company’s stock after selling 107 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Elevance Health were worth $3,540,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Jackson Hole Capital Partners LLC increased its stake in shares of Elevance Health by 12.9% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 5,671 shares of the company’s stock worth $2,674,000 after purchasing an additional 650 shares during the last quarter. Stevens Capital Management LP grew its holdings in Elevance Health by 171.3% during the fourth quarter. Stevens Capital Management LP now owns 7,260 shares of the company’s stock valued at $3,424,000 after purchasing an additional 4,584 shares during the period. Syon Capital LLC increased its position in Elevance Health by 31.0% in the fourth quarter. Syon Capital LLC now owns 3,219 shares of the company’s stock worth $1,518,000 after buying an additional 761 shares during the last quarter. Meritage Portfolio Management raised its stake in shares of Elevance Health by 3.9% in the fourth quarter. Meritage Portfolio Management now owns 12,678 shares of the company’s stock valued at $5,978,000 after buying an additional 478 shares during the period. Finally, Bailard Inc. lifted its position in shares of Elevance Health by 2.6% during the 4th quarter. Bailard Inc. now owns 6,740 shares of the company’s stock valued at $3,178,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ELV shares. Royal Bank of Canada boosted their price objective on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Mizuho upped their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Barclays boosted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Price Performance

NYSE ELV traded up $5.97 during trading hours on Thursday, reaching $539.70. 1,066,967 shares of the stock traded hands, compared to its average volume of 1,064,400. The stock has a 50 day simple moving average of $511.40 and a two-hundred day simple moving average of $485.81. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $125.44 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $9.46 EPS. On average, analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

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.