Colonial Trust Co SC Sells 257 Shares of Elevance Health, Inc. (NYSE:ELV)

by · The Cerbat Gem

Colonial Trust Co SC cut its holdings in Elevance Health, Inc. (NYSE:ELV – Free Report) by 20.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,029 shares of the company’s stock after selling 257 shares during the quarter. Colonial Trust Co SC’s holdings in Elevance Health were worth $380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Accredited Wealth Management LLC bought a new position in shares of Elevance Health in the fourth quarter worth about $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the 4th quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health during the fourth quarter worth $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health during the fourth quarter worth $30,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ELV shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Truist Financial boosted their price target on Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, April 11th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $518.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $510.38.

Read Our Latest Stock Analysis on ELV

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at $8,061,809.14. The trade was a 19.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 over the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $417.80 on Thursday. The firm has a market capitalization of $94.40 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a fifty day moving average of $423.65 and a 200-day moving average of $404.75. 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 – Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.69%.

Elevance Health Company Profile

(Free Report)

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.

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