Farmers Trust Co. Sells 107 Shares of Elevance Health, Inc. (NYSE:ELV)

Farmers Trust Co. decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 9.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 975 shares of the company’s stock after selling 107 shares during the quarter. Farmers Trust Co.’s holdings in Elevance Health were worth $360,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raelipskie Partnership bought a new stake in shares of Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC bought a new stake in Elevance Health during the 3rd quarter valued at $27,000. Eastern Bank bought a new position in shares of Elevance Health in the third quarter worth $31,000. Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. Finally, Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the third quarter valued at $44,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ELV. Barclays dropped their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada lowered their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $536.53.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Up 0.5 %

NYSE:ELV traded up $2.00 during trading hours on Wednesday, reaching $382.75. The company’s stock had a trading volume of 870,314 shares, compared to its average volume of 1,278,634. The firm has a 50-day simple moving average of $393.06 and a 200-day simple moving average of $474.59. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm has a market capitalization of $88.77 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.99 earnings per share. Research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, December 5th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.70%. Elevance Health’s dividend payout ratio is 23.77%.

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.