ROI Financial Advisors LLC Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

ROI Financial Advisors LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 31.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,037 shares of the company’s stock after selling 471 shares during the quarter. ROI Financial Advisors LLC’s holdings in Elevance Health were worth $382,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Raelipskie Partnership purchased a new position in Elevance Health in the third quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at about $26,000. OFI Invest Asset Management purchased a new position in shares of Elevance Health in the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Elevance Health during the fourth quarter valued at approximately $30,000. 89.24% of the stock is owned by institutional investors.

Insider Transactions at Elevance Health

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ELV. Wells Fargo & Company reduced their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Barclays increased their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Argus raised 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, March 17th. Finally, Truist Financial dropped their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Stock Performance

Shares of ELV stock opened at $428.62 on Friday. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock has a market cap of $97.03 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The business has a 50-day simple moving average of $408.70 and a 200-day simple moving average of $418.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.60%. Elevance Health’s payout ratio is presently 26.71%.

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.