Securian Asset Management Inc. Sells 383 Shares of Elevance Health, Inc. (NYSE:ELV)

Securian Asset Management Inc. lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,420 shares of the company’s stock after selling 383 shares during the quarter. Securian Asset Management Inc.’s holdings in Elevance Health were worth $4,582,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Raelipskie Partnership bought a new stake in Elevance Health during the 3rd quarter worth $26,000. Dunhill Financial LLC grew its holdings in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Elevance Health in the third quarter valued at approximately $44,000. Finally, Crews Bank & Trust bought a new position in Elevance Health in the 4th quarter valued at approximately $34,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Elevance Health Trading Down 2.3 %

NYSE:ELV opened at $412.13 on Thursday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $93.70 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.18 and a beta of 0.86. The firm has a fifty day simple moving average of $393.40 and a two-hundred day simple moving average of $431.42.

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

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ELV shares. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Barclays increased their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Argus reaffirmed a “hold” rating and set a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Truist Financial lowered their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $517.03.

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.