Western Wealth Management LLC Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

Western Wealth Management LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,861 shares of the company’s stock after selling 149 shares during the quarter. Western Wealth Management LLC’s holdings in Elevance Health were worth $1,349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Trust Investment Advisors bought a new position in shares of Elevance Health during the 4th quarter valued at $213,000. Calamos Advisors LLC grew its holdings in shares of Elevance Health by 0.7% during the 4th quarter. Calamos Advisors LLC now owns 24,028 shares of the company’s stock valued at $11,331,000 after purchasing an additional 156 shares during the last quarter. Xponance Inc. grew its holdings in shares of Elevance Health by 7.0% during the 4th quarter. Xponance Inc. now owns 37,886 shares of the company’s stock valued at $17,866,000 after purchasing an additional 2,476 shares during the last quarter. Ninety One SA PTY Ltd grew its holdings in shares of Elevance Health by 24.9% during the 4th quarter. Ninety One SA PTY Ltd now owns 40,149 shares of the company’s stock valued at $18,933,000 after purchasing an additional 7,994 shares during the last quarter. Finally, Ninety One UK Ltd grew its holdings in shares of Elevance Health by 20.7% during the 4th quarter. Ninety One UK Ltd now owns 858,171 shares of the company’s stock valued at $404,679,000 after purchasing an additional 147,103 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.

Elevance Health Trading Up 1.2 %

Shares of ELV opened at $531.59 on Friday. The firm’s 50-day moving average price is $509.14 and its 200-day moving average price is $483.22. The firm has a market capitalization of $123.70 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.12 and a beta of 0.78. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $539.11.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.46 EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is currently 25.90%.

Wall Street Analyst Weigh In

Several research firms recently commented on ELV. Royal Bank of Canada increased their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company raised their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group raised their price target on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group raised their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $583.77.

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.