FineMark National Bank & Trust Sells 192 Shares of Elevance Health, Inc. (NYSE:ELV)

FineMark National Bank & Trust trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,143 shares of the company’s stock after selling 192 shares during the quarter. FineMark National Bank & Trust’s holdings in Elevance Health were worth $15,157,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. Alaska Permanent Fund Corp purchased a new stake in Elevance Health in the 4th quarter valued at $31,000. Hexagon Capital Partners LLC raised its position in Elevance Health by 63.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after buying an additional 29 shares during the last quarter. ORG Partners LLC purchased a new stake in Elevance Health in the 4th quarter valued at $40,000. Private Wealth Management Group LLC purchased a new stake in Elevance Health in the 4th quarter valued at $41,000. Finally, Orion Capital Management LLC purchased a new stake in Elevance Health in the 3rd quarter valued at $46,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays increased their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Wells Fargo & Company raised their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. StockNews.com raised Elevance Health from a “buy” rating to a “strong-buy” rating in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, UBS Group raised their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $587.42.

Elevance Health Stock Performance

ELV traded down $2.89 during trading hours on Thursday, hitting $544.91. The stock had a trading volume of 281,573 shares, compared to its average volume of 1,005,839. The company’s fifty day simple moving average is $522.84 and its 200 day simple moving average is $497.04. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $550.34. The stock has a market cap of $126.65 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.20 and a beta of 0.79. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last issued 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. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the company earned $9.46 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.20%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by corporate insiders.

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.