First Western Trust Bank Sells 42 Shares of Elevance Health, Inc. (NYSE:ELV)

First Western Trust Bank lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 1,123 shares of the company’s stock after selling 42 shares during the quarter. First Western Trust Bank’s holdings in Elevance Health were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of ELV. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the third quarter valued at approximately $25,000. Alaska Permanent Fund Corp acquired a new position in shares of Elevance Health in the 4th quarter valued at $31,000. Hexagon Capital Partners LLC lifted its holdings in shares of Elevance Health by 63.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after acquiring an additional 29 shares during the period. ORG Partners LLC acquired a new stake in shares of Elevance Health during the 4th quarter valued at about $40,000. Finally, Orion Capital Management LLC bought a new position in Elevance Health during the third quarter worth about $46,000. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Trading Up 1.0 %

Elevance Health stock traded up $5.26 during mid-day trading on Thursday, hitting $538.61. The stock had a trading volume of 456,566 shares, compared to its average volume of 1,036,637. The stock has a market capitalization of $125.18 billion, a PE ratio of 20.36, a P/E/G ratio of 1.16 and a beta of 0.79. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a 50-day simple moving average of $515.17 and a two-hundred day simple moving average of $490.56.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the previous year, the company earned $9.46 EPS. Elevance Health’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ELV shares. Mizuho increased their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Barclays boosted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada lifted their price objective on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $587.42.

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.