Whittier Trust Co. of Nevada Inc. Buys 1,446 Shares of Elevance Health, Inc. (NYSE:ELV)

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,806 shares of the company’s stock after acquiring an additional 1,446 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Elevance Health were worth $13,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ELV. PNC Financial Services Group Inc. increased its holdings in Elevance Health by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 83,994 shares of the company’s stock worth $43,677,000 after purchasing an additional 832 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Elevance Health in the third quarter worth approximately $52,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Elevance Health by 460.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,923 shares of the company’s stock worth $2,560,000 after purchasing an additional 4,044 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Elevance Health by 57.4% in the third quarter. Advisors Asset Management Inc. now owns 8,377 shares of the company’s stock worth $4,356,000 after purchasing an additional 3,054 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Elevance Health by 6.5% in the third quarter. First Horizon Advisors Inc. now owns 854 shares of the company’s stock worth $444,000 after purchasing an additional 52 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 0.9 %

Shares of NYSE:ELV opened at $434.44 on Friday. The company has a market capitalization of $98.77 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a fifty day moving average price of $399.60 and a two-hundred day moving average price of $427.17. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial reduced their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Monday. Finally, Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Elevance Health 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.