Elevance Health, Inc. (NYSE:ELV) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc decreased its holdings in Elevance Health, Inc. (NYSE:ELVFree Report) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,085 shares of the company’s stock after selling 141 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Elevance Health were worth $1,455,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Alliance Wealth Advisors LLC grew its stake in Elevance Health by 2.9% in the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after acquiring an additional 21 shares during the period. ProVise Management Group LLC increased its stake in shares of Elevance Health by 0.6% during the second quarter. ProVise Management Group LLC now owns 3,856 shares of the company’s stock worth $1,713,000 after purchasing an additional 22 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of Elevance Health by 0.9% during the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after purchasing an additional 22 shares during the last quarter. Financial Counselors Inc. lifted its stake in Elevance Health by 1.0% in the 3rd quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after buying an additional 22 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its holdings in Elevance Health by 8.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock worth $131,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 3.3 %

Shares of NYSE ELV opened at $499.22 on Wednesday. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $521.18. The company has a market capitalization of $116.17 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.16 and a beta of 0.78. The company has a 50 day simple moving average of $504.08 and a 200-day simple moving average of $477.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health (NYSE:ELVGet Free Report) last posted its earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The company had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.23 earnings per share. On average, equities research analysts predict that Elevance Health, Inc. will post 37.15 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s payout ratio is 25.90%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research analyst reports. Barclays assumed coverage on Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 target price for the company. Cantor Fitzgerald lifted their target price on shares of Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada boosted their price target on shares of Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $569.36.

Read Our Latest Research Report on ELV

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company’s stock.

About Elevance Health

(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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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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