Elevance Health, Inc. (NYSE:ELV) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 29.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,881 shares of the company’s stock after selling 27,413 shares during the period. M&T Bank Corp’s holdings in Elevance Health were worth $31,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Sanders Capital LLC raised its stake in shares of Elevance Health by 1.4% in the third quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock valued at $1,855,750,000 after acquiring an additional 58,013 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Elevance Health by 0.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after buying an additional 27,986 shares during the period. Morgan Stanley grew its position in shares of Elevance Health by 1.7% during the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after buying an additional 46,322 shares in the last quarter. Northern Trust Corp lifted its stake in Elevance Health by 2.4% in the third quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock worth $1,052,175,000 after acquiring an additional 57,098 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Elevance Health by 7.2% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock worth $1,035,884,000 after acquiring an additional 160,524 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on 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 directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $1.35 during trading on Friday, reaching $526.96. The company had a trading volume of 819,445 shares, compared to its average volume of 1,136,492. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s fifty day moving average price is $513.54 and its 200 day moving average price is $488.91. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The firm has a market capitalization of $122.48 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business earned $9.46 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ELV shares. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Jefferies Financial Group raised their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Barclays boosted their price target on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

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.