TIAA Trust National Association Sells 837 Shares of Elevance Health, Inc. (NYSE:ELV)

TIAA Trust National Association trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,126 shares of the company’s stock after selling 837 shares during the period. TIAA Trust National Association’s holdings in Elevance Health were worth $2,998,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in shares of Elevance Health by 24.1% in the 3rd quarter. Larson Financial Group LLC now owns 624 shares of the company’s stock worth $324,000 after acquiring an additional 121 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Elevance Health by 3.8% in the third quarter. Fisher Asset Management LLC now owns 838 shares of the company’s stock worth $436,000 after purchasing an additional 31 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Elevance Health during the third quarter valued at about $90,000. Avestar Capital LLC boosted its position in Elevance Health by 4.8% during the third quarter. Avestar Capital LLC now owns 1,193 shares of the company’s stock valued at $620,000 after buying an additional 55 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of Elevance Health by 6.3% in the third quarter. Townsquare Capital LLC now owns 8,727 shares of the company’s stock worth $4,538,000 after buying an additional 517 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of several analyst reports. Truist Financial dropped their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Barclays increased their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a report on Monday, March 17th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $519.81.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Trading Up 1.6 %

NYSE ELV opened at $430.29 on Thursday. The firm has a market capitalization of $97.83 billion, a PE ratio of 16.80, a P/E/G ratio of 1.18 and a beta of 0.86. The stock’s 50 day moving average is $402.56 and its 200 day moving average is $422.85. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. 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 announced its quarterly earnings data 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%. Research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 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.