Florida Financial Advisors LLC Sells 55 Shares of Elevance Health, Inc. (NYSE:ELV)

Florida Financial Advisors LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 706 shares of the company’s stock after selling 55 shares during the quarter. Florida Financial Advisors LLC’s holdings in Elevance Health were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ELV. Raelipskie Partnership bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health in the fourth quarter valued at $26,000. OFI Invest Asset Management purchased a new position in Elevance Health during the 4th quarter valued at $29,000. Lee Danner & Bass Inc. bought a new position in Elevance Health in the 4th quarter worth $30,000. Finally, Crews Bank & Trust bought a new stake in shares of Elevance Health during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ELV shares. Truist Financial decreased their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Monday, March 17th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Barclays increased their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company dropped their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $423.03 on Wednesday. The firm’s 50-day moving average price is $401.73 and its 200-day moving average price is $422.80. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a market cap of $96.18 billion, a PE ratio of 16.52, a PEG ratio of 1.18 and a beta of 0.86. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. Elevance Health’s dividend payout ratio is currently 26.71%.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.