Elevance Health, Inc. (NYSE:ELV) Shares Sold by Donaldson Capital Management LLC

Donaldson Capital Management LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,024 shares of the company’s stock after selling 236 shares during the quarter. Donaldson Capital Management LLC’s holdings in Elevance Health were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Raelipskie Partnership purchased a new stake in Elevance Health during the 3rd quarter worth about $26,000. Dunhill Financial LLC increased its holdings in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $29,000. Peterson Financial Group Inc. acquired a new stake in Elevance Health during the 3rd quarter worth approximately $44,000. Finally, Crews Bank & Trust acquired a new stake in shares of Elevance Health during the fourth quarter worth $34,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

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

Analysts Set New Price Targets

ELV has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial decreased their price target 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. Wells Fargo & Company dropped their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Argus reissued a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $423.44 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm’s 50-day simple moving average is $392.54 and its 200-day simple moving average is $431.56. The firm has a market cap of $96.27 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

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 the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal 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 issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. 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 payout ratio is currently 26.71%.

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.