Farmers Trust Co. Sells 107 Shares of Elevance Health, Inc. (NYSE:ELV)

Farmers Trust Co. lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 975 shares of the company’s stock after selling 107 shares during the quarter. Farmers Trust Co.’s holdings in Elevance Health were worth $360,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ELV. Iridian Asset Management LLC CT grew its stake in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after buying an additional 3,786 shares during the last quarter. International Assets Investment Management LLC grew its position in Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after acquiring an additional 532,016 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after purchasing an additional 50,603 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Elevance Health by 5.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 209,859 shares of the company’s stock valued at $109,127,000 after purchasing an additional 9,916 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Elevance Health by 60.6% during the third quarter. Tidal Investments LLC now owns 10,485 shares of the company’s stock valued at $5,452,000 after purchasing an additional 3,956 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald lowered their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Morgan Stanley reduced their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Barclays cut their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $536.53.

Elevance Health Stock Up 0.5 %

Shares of NYSE ELV traded up $2.00 during trading on Wednesday, hitting $382.75. 870,314 shares of the company traded hands, compared to its average volume of 1,278,634. The business’s fifty day moving average is $393.06 and its 200 day moving average is $474.59. The firm has a market capitalization of $88.77 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the firm earned $8.99 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

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.