Stock Yards Bank & Trust Co. Decreases Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Stock Yards Bank & Trust Co. lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,350 shares of the company’s stock after selling 529 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Elevance Health were worth $3,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in Elevance Health by 114.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after purchasing an additional 16,737 shares during the period. Brave Warrior Advisors LLC raised its holdings in shares of Elevance Health by 7.9% during the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock valued at $828,367,000 after buying an additional 129,055 shares during the period. New Mexico Educational Retirement Board lifted its position in Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after acquiring an additional 1,800 shares in the last quarter. Bank of Nova Scotia boosted its holdings in Elevance Health by 276.0% in the 4th quarter. Bank of Nova Scotia now owns 82,331 shares of the company’s stock worth $38,823,000 after acquiring an additional 60,436 shares during the period. Finally, Blair William & Co. IL grew its position in Elevance Health by 119.7% in the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after acquiring an additional 6,610 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $553.50 on Tuesday. The company has a market cap of $128.35 billion, a PE ratio of 20.92, a P/E/G ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $567.26. The company has a fifty day moving average price of $535.65 and a two-hundred day moving average price of $528.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $9.04 EPS. Research analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley initiated coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 target price on the stock. Truist Financial upped their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Baird R W raised Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Bank of America reiterated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their price objective on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $604.29.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,058 shares of company stock valued at $17,588,116. Insiders own 0.35% of the company’s stock.

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.