National Bank of Canada FI Reduces Holdings in Elevance Health, Inc. (NYSE:ELV)

National Bank of Canada FI decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 23.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,784 shares of the company’s stock after selling 8,138 shares during the period. National Bank of Canada FI’s holdings in Elevance Health were worth $12,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ELV. abrdn plc boosted its stake in shares of Elevance Health by 86.8% during the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after purchasing an additional 129,364 shares during the period. Cerity Partners LLC boosted its position in Elevance Health by 21.3% in the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after buying an additional 9,199 shares during the period. Wetzel Investment Advisors Inc. bought a new position in Elevance Health in the 4th quarter worth about $218,000. Commonwealth Equity Services LLC increased its position in shares of Elevance Health by 8.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 55,262 shares of the company’s stock worth $26,060,000 after acquiring an additional 4,362 shares during the period. Finally, Chicago Capital LLC raised its stake in shares of Elevance Health by 244.2% during the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after acquiring an additional 4,986 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 0.5 %

NYSE:ELV opened at $533.35 on Thursday. The firm has a 50 day moving average of $514.57 and a 200 day moving average of $490.26. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. The stock has a market capitalization of $123.96 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.16 and a beta of 0.79.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same quarter in the prior year, the business posted $9.46 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Insider Buying and Selling

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ELV shares. Royal Bank of Canada increased their price objective on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Barclays raised their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. UBS Group upped their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Mizuho upped their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $587.42.

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.