Whittier Trust Co. of Nevada Inc. Sells 2,218 Shares of Elevance Health, Inc. (NYSE:ELV)

Whittier Trust Co. of Nevada Inc. lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 5.9% during the third quarter, Holdings Channel.com reports. The firm owned 35,360 shares of the company’s stock after selling 2,218 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Elevance Health were worth $18,387,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ELV. Fisher Asset Management LLC increased its holdings in shares of Elevance Health by 20.8% during the fourth quarter. Fisher Asset Management LLC now owns 899 shares of the company’s stock valued at $424,000 after acquiring an additional 155 shares in the last quarter. International Assets Investment Management LLC increased its stake in Elevance Health by 12.0% during the 1st quarter. International Assets Investment Management LLC now owns 607 shares of the company’s stock valued at $313,000 after purchasing an additional 65 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in shares of Elevance Health by 4.4% in the first quarter. Salem Investment Counselors Inc. now owns 1,369 shares of the company’s stock valued at $710,000 after buying an additional 58 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Elevance Health by 4.1% during the first quarter. Ballentine Partners LLC now owns 1,974 shares of the company’s stock valued at $1,024,000 after buying an additional 78 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Elevance Health during the first quarter worth about $54,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday. Raymond James set a $485.00 target price on Elevance Health in a research report on Friday. Cantor Fitzgerald lowered their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a report on Friday. Finally, Morgan Stanley assumed coverage on Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $565.27.

Elevance Health Price Performance

Shares of Elevance Health stock traded down $9.56 during trading on Monday, hitting $421.21. 1,368,527 shares of the stock traded hands, compared to its average volume of 1,079,990. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock has a market cap of $97.90 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.08 and a beta of 0.82. The firm’s fifty day moving average is $526.74 and its 200-day moving average is $527.81. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $8.99 earnings per share. Research analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.55%. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

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.