Mcdonald Capital Investors Inc. CA Cuts Stake in Elevance Health, Inc. (NYSE:ELV)

Mcdonald Capital Investors Inc. CA reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 0.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 127,259 shares of the company’s stock after selling 620 shares during the period. Elevance Health comprises 2.9% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 15th biggest holding. Mcdonald Capital Investors Inc. CA’s holdings in Elevance Health were worth $46,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Equitable Trust Co. lifted its holdings in Elevance Health by 159.6% during the third quarter. Equitable Trust Co. now owns 1,760 shares of the company’s stock valued at $915,000 after purchasing an additional 1,082 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Elevance Health during the third quarter valued at about $469,000. Assetmark Inc. lifted its holdings in Elevance Health by 1.8% during the third quarter. Assetmark Inc. now owns 12,135 shares of the company’s stock valued at $6,310,000 after purchasing an additional 220 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in Elevance Health by 12.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 555 shares of the company’s stock valued at $289,000 after purchasing an additional 62 shares during the last quarter. Finally, Sigma Planning Corp lifted its holdings in Elevance Health by 4.8% during the third quarter. Sigma Planning Corp now owns 2,385 shares of the company’s stock valued at $1,240,000 after purchasing an additional 109 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday, March 1st. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus reissued a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 1.7 %

Shares of NYSE ELV opened at $409.59 on Monday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm’s 50 day simple moving average is $390.64 and its two-hundred day simple moving average is $433.36. The stock has a market capitalization of $93.12 billion, a P/E ratio of 15.99, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Elevance Health Company 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.