Trillium Asset Management LLC Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Trillium Asset Management LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,534 shares of the company’s stock after selling 26,985 shares during the quarter. Trillium Asset Management LLC’s holdings in Elevance Health were worth $27,127,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ELV. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the 3rd quarter worth approximately $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $29,000. Crews Bank & Trust purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $34,000. Finally, Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV opened at $436.32 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. The stock has a market capitalization of $99.20 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.18 and a beta of 0.86. The company’s fifty day moving average is $397.60 and its two-hundred day moving average is $427.09. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

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 net margin of 3.38% and a return on equity of 18.28%. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.57%. Elevance Health’s dividend payout ratio is 26.71%.

Analyst Ratings Changes

ELV has been the subject of several recent analyst reports. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $519.81.

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.