Annis Gardner Whiting Capital Advisors LLC Lowers Position in Elevance Health, Inc. (NYSE:ELV)

Annis Gardner Whiting Capital Advisors LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 42.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165 shares of the company’s stock after selling 124 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in Elevance Health were worth $61,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ELV. Pitcairn Co. increased its stake in shares of Elevance Health by 2.2% in the 4th quarter. Pitcairn Co. now owns 2,307 shares of the company’s stock worth $851,000 after acquiring an additional 50 shares in the last quarter. Arete Wealth Advisors LLC increased its stake in shares of Elevance Health by 9.1% during the fourth quarter. Arete Wealth Advisors LLC now owns 826 shares of the company’s stock valued at $305,000 after purchasing an additional 69 shares in the last quarter. World Investment Advisors lifted its holdings in shares of Elevance Health by 20.6% during the fourth quarter. World Investment Advisors now owns 20,537 shares of the company’s stock valued at $7,576,000 after purchasing an additional 3,509 shares during the last quarter. Disciplined Investors L.L.C. purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $399,000. Finally, Cynosure Group LLC boosted its position in shares of Elevance Health by 647.7% in the 4th quarter. Cynosure Group LLC now owns 5,735 shares of the company’s stock worth $2,116,000 after purchasing an additional 4,968 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $428.62 on Friday. The company has a 50-day moving average price of $408.70 and a 200-day moving average price of $418.26. 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 firm has a market capitalization of $97.03 billion, a P/E ratio of 16.74, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. Equities research analysts anticipate 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 was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given 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 dividend payout ratio is presently 26.71%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on 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 sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ELV. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Monday, March 17th. Finally, Barclays raised their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $519.81.

About Elevance Health

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.