Foresight Global Investors Inc. Sells 703 Shares of Elevance Health, Inc. (NYSE:ELV)

Foresight Global Investors Inc. trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 21.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,645 shares of the company’s stock after selling 703 shares during the quarter. Elevance Health comprises approximately 0.7% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 26th biggest position. Foresight Global Investors Inc.’s holdings in Elevance Health were worth $1,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ELV. OFI Invest Asset Management bought a new position in Elevance Health in the 3rd quarter valued at about $25,000. Alaska Permanent Fund Corp bought a new position in shares of Elevance Health during the fourth quarter worth approximately $31,000. Hexagon Capital Partners LLC raised its position in shares of Elevance Health by 63.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after buying an additional 29 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $40,000. Finally, Orion Capital Management LLC bought a new position in Elevance Health during the 3rd quarter worth $46,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELV. Barclays increased their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company upped their price objective on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Finally, UBS Group increased their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Trading Up 1.0 %

NYSE:ELV traded up $5.26 during mid-day trading on Thursday, hitting $538.61. 456,566 shares of the company’s stock were exchanged, compared to its average volume of 1,036,637. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The company has a 50 day simple moving average of $515.17 and a 200-day simple moving average of $490.56. The firm has a market capitalization of $125.18 billion, a P/E ratio of 20.35, a PEG ratio of 1.16 and a beta of 0.79.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.46 earnings per share. As a group, research analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company 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.