Choate Investment Advisors Sells 291 Shares of Elevance Health, Inc. (NYSE:ELV)

Choate Investment Advisors lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 27.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 753 shares of the company’s stock after selling 291 shares during the quarter. Choate Investment Advisors’ holdings in Elevance Health were worth $278,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Mutual Advisors LLC boosted its holdings in Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after acquiring an additional 52 shares during the period. Czech National Bank boosted its holdings in Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after acquiring an additional 3,049 shares during the period. Benjamin Edwards Inc. boosted its holdings in Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after acquiring an additional 50,603 shares during the period. Diversified Trust Co boosted its holdings in Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after acquiring an additional 2,725 shares during the period. Finally, JB Capital LLC boosted its holdings in Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock valued at $3,462,000 after acquiring an additional 8,038 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ELV shares. StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Wells Fargo & Company dropped their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a report on Monday. Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The sale 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 transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 2.5 %

Shares of ELV stock opened at $431.29 on Tuesday. The stock’s 50-day simple moving average is $396.48 and its 200-day simple moving average is $427.94. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a market capitalization of $98.06 billion, a PE ratio of 16.84, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.59%. Elevance Health’s dividend payout ratio is presently 26.71%.

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.