Intrust Bank NA Sells 1,183 Shares of Elevance Health, Inc. (NYSE:ELV)

Intrust Bank NA cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 24.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,655 shares of the company’s stock after selling 1,183 shares during the quarter. Intrust Bank NA’s holdings in Elevance Health were worth $1,348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the 3rd quarter valued at $26,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health during the fourth quarter valued at about $26,000. Dunhill Financial LLC increased its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in Elevance Health in the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management purchased a new position in Elevance Health in the fourth quarter valued at about $29,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 0.0 %

Shares of NYSE:ELV opened at $431.84 on Friday. The company has a market cap of $98.18 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a fifty day moving average price of $404.45 and a two-hundred day moving average price of $421.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

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

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ELV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Truist Financial lowered their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $519.81.

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.