First National Bank of Hutchinson Grows Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

First National Bank of Hutchinson grew its stake in Elevance Health, Inc. (NYSE:ELV) by 10.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,416 shares of the company’s stock after purchasing an additional 221 shares during the period. Elevance Health makes up about 0.8% of First National Bank of Hutchinson’s holdings, making the stock its 25th largest holding. First National Bank of Hutchinson’s holdings in Elevance Health were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of ELV. Bank & Trust Co acquired a new position in Elevance Health in the second quarter valued at approximately $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health in the 2nd quarter valued at $28,000. Palisade Asset Management LLC purchased a new position in shares of Elevance Health during the 1st quarter worth $28,000. Eastern Bank acquired a new stake in shares of Elevance Health during the 3rd quarter worth about $31,000. Finally, Register Financial Advisors LLC purchased a new stake in Elevance Health in the 1st quarter valued at about $32,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the subject of several research analyst reports. Royal Bank of Canada lowered their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Truist Financial reiterated a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald decreased their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, Bank of America reissued a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $551.07.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of ELV opened at $415.54 on Thursday. The firm has a market capitalization of $96.58 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.08 and a beta of 0.82. The firm’s fifty day simple moving average is $519.97 and its 200-day simple moving average is $525.88. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $8.99 earnings per share. Equities analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.57%. Elevance Health’s dividend payout ratio is currently 24.64%.

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.