Elevance Health, Inc. (NYSE:ELV) Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its holdings in Elevance Health, Inc. (NYSE:ELVFree Report) by 23.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 277,232 shares of the company’s stock after selling 86,949 shares during the quarter. TD Asset Management Inc owned 0.12% of Elevance Health worth $130,732,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Alaska Permanent Fund Corp acquired a new stake in Elevance Health in the fourth quarter worth about $31,000. Hexagon Capital Partners LLC lifted its holdings in shares of Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after purchasing an additional 29 shares during the period. ORG Partners LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth about $40,000. Private Wealth Management Group LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth about $41,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Elevance Health during the third quarter worth about $46,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 2.4 %

Shares of ELV stock traded down $12.50 on Wednesday, hitting $506.69. The stock had a trading volume of 582,188 shares, compared to its average volume of 1,014,277. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $550.34. The firm has a market cap of $117.76 billion, a P/E ratio of 19.05, a PEG ratio of 1.15 and a beta of 0.79. 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 company has a fifty day moving average price of $523.96 and a two-hundred day moving average price of $499.34.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $42.49 billion. During the same quarter in the previous year, the business earned $9.46 EPS. The firm’s revenue was up .9% on a year-over-year basis. As a group, analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is presently 24.64%.

Insider Buying and Selling

In related news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Royal Bank of Canada raised their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Barclays raised their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, StockNews.com upgraded Elevance Health from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Buy” and a consensus target price of $587.42.

Check Out Our Latest Report on ELV

Elevance Health Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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